FE"LE COPY

DOCUMENT OF INTERNATl1ONAL BANK FOR- RECONSTRUCTION AND DEVELOPMENT

Not For Public Use

Report No. 275-PAN

REPORT ON THE ECONOMY

OF

PANAMA

(in four volumes)

Volume IV

Statistics

November 13, 1973

Regional OfficeLatin America and the CaribbeanCountry Programs Department I

This report was prepared for official use only by the Bank Group. It may not be published, quotedor cited without Bank Group authorization. The Bank Group does not accept responsibility for theaccuracy or completeness of the report.

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CURRlENCY EQUIVALENTS

1.00 Balboa = 1.00 US$

1.00 US$ = 1.00 Balboa

Fiscal Year: January 1 to December 31

REF'ORT ON THEF ECONOMY OF PANAMA

VOL`jAE IV : STATISTICS

Table of Contents

I. HUMAN RESOURCES

1.1 Populatiorn by Area and Province, 1950-19721.2 Birth and Mortality Rate, 1952-19711.3 Urban and Rural Fertility Rates, 1962-1963, 1966-1967,

1970-19711.4 Illiteracy by Province, 1950, 1960, 19701.5 Labor Force and E&ployment by Sector, 1960-19721.6 Public Educational Indicators, 1950-19711.7 Total Public and Private Schools, Teachers, and

Students, 1950, 1957-19731.8 Secondary Students by Type of Course, 1959/1960,

1965-19711.9 University of Panama Indicators, 1950, 1960, 1965-1972

II.~ NATIONAL ACCOUNTS

2.1 Industrial Origin of Gross Domestic Product at ConstantPrices, 1950-1972

2.2 Industrial Origin of Gross Domestic Product at CurrentPrices, 1950-1971

2.3 Expenditure- on Gross Domestic Product, 1950-19722.4 Expenditure on Gross Domestic 1Product in Constant

Prices, 1950-722.5 Private and Public Gross Capital Formation and Stock

Changes, 1950-19712.6 Distribution of National Income, 1950-19712.7 Projection of Gross Domestic Product by Sector Origin,

1972-19802.8 Projected :Expenditure on GNP, 1972-1980

III. BALANCE OF PAYMITS

3.1 Balance of Payments-Current Account, 1950-723.2 Balance of Payments - Capital Account3.3 Balance of Paynents Current Account - Canal Zone3.4 Selected Major Exports, 1955-19723.5 Value of DIports and Import Duties Paid, By Selected

Major Categories, 1958-723.6 Volume and FOB Value Imports of Principal Supplementary

Food. Products, Annual, 159);d-1971 and 1972 (9 months)3.7 Terms of Tlrade, 1950-1971

.

Table of Contents - 2 -

IV. PUBLIC DEBT

4.1 Total Public Sector Debt Outstanding as ofDecember 31, 1972

4.2 Debt Service on All Public Debt, 1965-1992L.3 Debt Service on External Public Debt, 1965-19924.L Debt Service on Internal Public Debt, 1965-19924.5 Debt Service on External Government Debt, 1965-15924.6 Debt Service on Internal Government Debt, 1965-19924.7 Adjusted Projection of Government Debt Service, 1974-1980

V. PUBLIC FINANCE

5.1 Consolidated Public Sector Accounts,1960 and 1965-73`.2 Consolidated Public Sector Accounts, 1960 and 1965-725.3 Public Investment by Sector; 1960, 1965-19735.l4 Public Sector Investinent by Sector, Ministry and

Agencies; 1960, 1965-19735.5 Consolidated Public Sector, 19605.6 Consolidated Public Sector, 19655.7 Consolidated Public Sector, 19665.8 Consolidated Public Sector, 19675.9 Consolidated Public Sector, 19685.10 Consolidated Public Sector, 19695.11 Consolidated Public ;'z.ector, 19705.12 Consolidated Public Sector, 19715.13 Consolidated Public Sector, 19725.14 Consolidated Public Sector Budget, 19735.15 Central Goverrnment Operations, 1950-735.16 Central Gc-vtennment Current Revenues, 1960-735.17 Central Government Current Expenditures, 1960-735.18 Central Government Capital Expenditures, 1960-735.19 Central Government Current Transfers, 196C-735.20 Central Government Capital Transfers, 1965-735.21 Central Government Regional Revenue Effect, 19705.22 Hypothetical Public Costs of Education5.23 Summary Accounts of Selected Municipalities5,24 Sumnary Accounts of Social Serucurity System, 1960 and

1965-735.25 Social Securiy Coverage, 1960-19715.26 I-Aimary Accounits of Colon Free Zone, 1960 and 1965-735,27 Summary Accounts of Civil Aviation Directorate, 1969-735s28 Summari Accounts of National Water and Sewerage Institute

'65-735.29 Summary Accouats of the Economic Development Institute5.30 Summary Accounts of the Institute for Development and Use

of Human Resources (IFARHU)5.31 Sumrary Accounts of Tourism Institute (IPAT), 1965-73

Table of Contents - 3 -

V. PUBLIC F2NANCE (Cont.)

5.32 Sunmary Accounts of Hydraulic Resources and ElectricityInstitute, 1965-1 973

5.33 Summary Accounts of Housing and Urbanization Institute(IVU, 1960 and 1965-7C

5.34 Summnary Accounts of the University of Panama, 1960 and1965-73

5.35a 1°60-72 Elasticity and Buoyancy of Government Revenues5.35b 1960-68 E]lasticity and Buoyancy of Governrment Revenues5.35c 1968-72 Elasticity and Buoyancy of Government Revenues5.36a Government Revenue Projections from Existing Taxes, 1974-755.36b Second Government Revenue Projections from Existing Taxes, 1974-765.37 Projection of Government iXpenditures, 1974-19805.38 Central Government Investments, 1974-805.39 Summary Projection of Socinl Security System, 17)4-19805.40 Summary Plrojection of Civil Aviation Directorate, 1974-19805.1X Summary Projection of Colon Free Zone, 1974-19805.42 Samniary Projection of National Water and Sewerage Institute

1974-198c)5-.3 Summary Projection of Vocational Training Irnstitute (IFARHU)

1 974-1 9805.L;L Summary rProjection of Electricity and Hydraulic Resources

Institute,, 19744-19805.45 Summary Projections of IPAT, 1574-19805.46 Summary Projection of National i':ortgage Bank, 1974-19805.l,7 Sumary rojection of University of Panama, 197)4-19805.48 Central Government Current Expenditures by Major Ministries,

1967-1972

VI. BANKING

6.1 Accounts of the Banking System, 1960-726.2 Annual Bank Loans made by Sector, 1958-1972

VII. AGRICULTURE

7.1 Major Land Uses According to Cadastral and PreliminaryAerial Survey Data, by Provinces and Ecological Groupsof Provinces

7.2 Land Capability of All Land According to Cadastral andPreliminary Aerial Survey Data, by Provinces and hcologicalGroups of Provinces

7.3 LandCapability of Areas Surveyed bv Cadaster, by Provinceand Ecological Groups of Provinces

-7.4 Land in Farms According to viajor band Uses, by Provincesand Ecological Grc ms of Frovinces, 1950, 1960 and 1971

.

Table of Conternts _ 4 -

VII. AGRICULTURE (Cont.)

7.5 Gross Value of Product-on from Agriculture, Forestry andFishing by Three-year Moving Averages, 1950-1972 and Annual,1967-72 (1960 dollars)

7.6 Principal Staple Crops Area, Production and Yield Trends,1950-72

7.7 Principal Exports of Products of Agriculture and Fisheries,Average for Selected Years in 1950's and Annual and Average1960-1972, in Volume and Value

7.8 Supply of Rice and Feed Grains (Corn/Sorghum), Annual andAverage, 1968-72 and Projected 1973

7.9 Land Acquisition of Agrarian Reform Comnission, by Province,1969-72

7.10 Commercial Crop Production and Credit, 1972/73, of CampesinoGroups under Sectorial Production Plan, by Regions

7.11 Number and Area of Farsz by Size Class, Proportion of Numberand Area in Each Class, and Relative Inter-Census Changes,1950, 1960 and 1970

VIII. OTHER SECTORS

8.i Manufacturing Statistizs, 1961-19718.2 Real Value Added in hanufacturing, 1950-19728.3 Value Added in Manufacturing, 1960-718.1 Industrial Characteristics, 1968 and 19708.5 Electricity Information, 1950-19728.6 Panama City Private Residential Construction Permits, 1950-728.7 Travellers to Panama, 1950-19718.8 Rural Wells and Water Systems Constructed, 12969-1972

IX. WAGES AND PRICES

9.1 Cost of Living Index, Panama and Colon Cities, 1962-19729.2 Selected Price Indices for Panama and the United States, 1966-729.3 Panama - Average Salaries by Selected Areas and Employees, 1958-719.4 Selected Wage Indices, 1968-1973

.

I

HUMAN RESOURCES

Table 1.1: POPULATION BY AREA AND PROVINCE. 1950-1972

(On July 1 - In thousands)

Area Provin cesYear Popula- Bocas

tion Urban Rural Del Toro Cocle Col6n Chiriqul Darien Herrera Los Santos Panarna Veragua

1950 795.0 287.8 507.2 22.0 72.3 89.4 136.3 14.5 49.6 61.0 243.8 106.1.1951 818.3 300.2 518.1 22.9 74.1 90.9 140.6 15.0 50.7 61.9 254.0 108.21952 842.3 313.1 529.2 23.7 75.9 92.4 145.1 15.4 51.8 62.8 264.6 110.61 953 Q6867.0 326.e5 24 7 7.8 93.9 149.8 15.8 52.9 63.7 275.6 1,12. 9

1954 892.5 340.5 552.0 25.5 79.8 95.4 154.5 16.3 54.0 64.6 287.1 115.31955 918.7 355.1 563.6 26.6 81.7 96.9 159,5 16.8 55.1 65.,5 298,9 117.71956 945.6 370.3 575.3 27.6 83.7 98.4 164.4 17.3 56.3 66.4 311!3 120.21957 973.4 386b2 587.2 28.6 85.8 99,9 169.7 17.7 57.5 67.4 324,1 122.71958 1,001,,9 402,8 599.1 29.7 87.8 101.5 175.0 18.3 58,7 6 89 337.4 125.21959 1,031.3 420.1 611.2 30.8 90.0 103.0 180.4 18.9 59.9 69.2 351.3 127.81960 1,061.1 438.1 623.0 32.1 92,1 13Qz4.2 3I 3 19,6 G " 7uA 36 4.5 130,71961 1,093.6 456,31 637,5 33.2 94.5 107.0 191,0 19.9 6293 70,7 382.1. 132,91962 1,127.1 474,4 652,7 34.2 97.0 109,9 195.8 20.2 63.4 71,0 400.6 135.01963 1,161.6 493.4 668.2 35.3 99.5 112.8 200.6 20.5 64.6 71.2 419.9 137.21964 1,197.1 513.2 683.9 36.4 102.1 115.8 205.6 20.8 65o7 71,4 440.0 139,31965 1,233,7 533.8 699.9 37,6 104.7 118.8 210.6 21.1 66.9 71,6 461,0 141,41966 1,271.6 555.2 716.4 38.8 107.3 121.9 215.7 21,5 68.0 71,8 483.1 143,51967 1,310.5 577.4 733A1 40.0 110.0 125.0 220.9 21.8 69.2 72.0 505.9 145.71968 1,350.5 600.6 749,9 41.2 112.8 128.2 226.2 22.1 70.4 72.1 529.7 147,81969 1,391.8 624.7 767,1 42.4 11-56 131.5 231,5 22,4 71.5 72,3 554.6 150(01970 1,434.4 682.81/751,6 43.7 118,4 134.8 237,0 22.7 72.7 72.4 580.5 152.21971 1,478,3 710 .676 767,7 45.1 121.4 138.3 242,7 23,1 74.0 72.6 604.6 156.51972 1,523.5 739.6 783.9 46.5 124,5 141.9 248.6 23.4 75.3 72,8 631.6 158.9

1/ After 1969 11 small cities with a total population of 33, 339 were allocated to the urban sectoras a result of the 1970 census.

Source: Controller General

Table 1,2: BIRrI AIM MORTALITY EA j952-19=7 1/

Birts a tu ratYear General Babn 1 year)-- Mothers P' Growth.

Total Per 1,000 Total Per 1,00( Total Per 1,000 Total Per 1,000 Total Per 1,000inhabit- inhabit- live births live births inhabit-ants 4/ ants 4/ ants 4/

1952 29,013 36.0 6,791 8.4 1,469 50.6 86 3.0 22,222 27.61953 31,428 37.9 7,638 9.2 1,687 53.7 92 2.9 23,790 28.71954 33,521 39.3 7,511 8,8 1,745 52.0 89 2.6 26,010 30.51955 34,592 39.4 8,059 9.2 1,884 54.5 78 2.2 26,533 30.21956 35,582 39,3 8,352 9.2 2,049 57.6 97 2.7 27,230 30.11957 37,743 40.5 8,656 9.3 2,129 56.4 88 2.3 29,087 31 21958 37,733 39.3 8,364 8.7 2,186 57.9 79 2,1 29,369 30.61959 40,296 40.8 8,959 9.1 2,418 60.0 97 2.4 31, 337 31.71960 42,359 39.9 8,827 8,3 2,450 57.8 85 2.0 33,532 31,61961 44,207 40.4 8,851 8.1 2,435 55.1 89 2.0 33, 356 32,31962 46,274 41.1 8,239 7.3 2, 013 43,5 81 18 38,035 33.81963 46,656 40.2 9,239 8.0 2,243 48.1 79 1.7 37,417 32.21964 47,419 39.6 8,743 7.3 2,031 42.8 75 1.6 38,676 32.31965 48,377 39.2 9,035 7c3 2,196 45.4 74 1,5 39,342 31.91966 49,394 38.9 9,184 7.2 2,225 45.0 73 1,5 40,210 31.71967 50,795 38.8 8,938 6,8 2,169 42.7 72 1.4 41,857 32.01968 52,489 38.9 9,568 7.1 2,078 39.6 71 1.4 42,921 31.81969 52,799 38.0 9,791 7.0 2,109 39,9 72 1.4 43,008 31.01970 53,287 37.1 10,225 7.1 2,156 40.5 72 1.4 43,062 30.01971 54,948 37.2 9,857 6.7 2,064 37.6 63 1.1 45,091 30.5

1/ Until 1959 births and deaths of residents in aboriginal preserves were excluded, exceptfor the provinces of Bocas del Toro and Darien. Since 1960 these data cover the whole Republic.

2/ Excludes fetal deaths.

3/ Refers to deaths due to pregnancy, labor and postnatal complications.

4/ Based on the population estimates as of July 1.

Source: Controller General

* 0 *0

Table 1.3 URBAN AND RURAL FERTILITY RATES,1962-1963, 1966-1967, 1970-1971

(per' thousand women, yearly average)

Residence ~~~~~~~~~~~~IndexResideAce 1962-1963 1966-1967 1970-1971 1970-71/1962-63

Urban 119i.6 12-_1 115-7 X10-14 1.5 1.4 lOo- l0o.715-19 109.2 103.0 101.5 92.920-24 278.1 256.1 245.7 88.325-29 252.8 227.3 223.7 88.530-304 155.2 148.9 156.0 100.535-39 80.9 86.5 84.4 104.340-44 24.5 25.9 27.1 110.645-49 3.2 3.5 3.1 96.9

Rural 163.5 157.3 148.1 90.610-14 3.1 3.2 3.1 100.015-19 183.1 175.4 165.9 90.620-24 326.1 320.0 310.8 95.325-29 319.3 297.1 277.9 87.030-34 229.8 226.8 213.4 92.935-39 164.5 162.9 158.3 96.2140-1-4 58.9 60.1 61.0 103.645-49 13.9 12.9 14.3 102.9

* Total 142.4 136.8 131.4 92.3

10-14 2.4 2.4 2.4 100.015-19 147.2 138.4 130.4 88.620-24 303.6 287.7 274.2 90.325-29 287.7 262.5 248.8 86.530-34 192.9 188.2 183.9 95.335-39 123.5 125.7 121.2 98.140-44 40.9 42.5 43.1 105.445-49 8.4 8.1 8.4 100.0

bource: Controller General

Table 1. 4: ILLITERACY BY PROVINC 19 1/

(Population 10 years or older)

1950 1960 1970

Illiterates Illiterates IlliteratesProvince Total Per- Total Per- Total Per-

Number cent Number cent Number cent

National Total 5?Z465 49 2 28 698 150 151 806 217 934,935 1 23 17.8

Bocas del Toro 9,791 1,751 17.9 13,529 3,258 24.1 20,155 4,770 23.7

Cocle 48,133 14,303 29.7 60,749 13,674 22.5 76,064 15,038 19.8

Colon 53,806 5,019 9.3 61,280 4,811 7.8 77,050 6,862 8.9

Chiriqul 83,151 30,466 36.6 111,362 29,385 26.4 139,412 30,466 21.9

Darien 7,168 1,875 26.2 8,954 2,242 25.0 10,490 3,821 36.4

Herrera 34,063 16,515 48.5 42,343 15,997 37.8 50,097 15,382 30.7

Los Santos 41,199 17,902 43.5 48,346 16,701 34.5 51,326 14,957 29.1

Panama 180,419 19,183 10.6 266,824 21,919 8.2 412,958 33,037 8.0

Veraguas 69,735 42,188 60.5 84,763 43,819 51.7 97,383 41,900 43.0

1/ Excludes indigenous population.

Source: Controller General.

* .. * 0

* 0 Page0of 2TB 1 : LABOR FORCE ANhD EIPLOYENT BY bECTOR, 1960-1972

(thousands)

Economic bector 1960 1961 1962 1963 1961 1965 1966 1967 1968 1969 1970

Econom,.c.Lly Active Population 330 348 356 360 365 379 391 409 435 450 1466 1471 476

Agriculture 152 161 166 165 162 167 169 158 160 159 160 153Manufactunrig 26 28 28 29 31 32 40 40 514 50 51 .45Construction 14 13 13 14 114 15 18 22 21 23 27 30Power, Gas, Water and Sewerage 2 2 3 3 3 5 3 3 3 14 4 5Conmmerce 31 35 35 36 36 35 40 49 49 56 60 63

grrnnsIor., .torage nnandConmunications 9 9 9 10 10 17 13 14 16 17 17 20

bervices 68 71 72 73 73 714 80 9L4 914 109 114 121Canal Zone, 21 21 21 22 21 22 22 21 24 23 23 26New Workers 7 8 9 8 15 12 6 8 114 9 9 8 114

Enployed Populatio!i 300 320 330 239 338 350 371 384 401z4 420 433 1435 14146

Agriculture 150 159 165 1614 161 165 168 156 158 157 158 151Manufacturing 24 26 26 28 30 30 38 38 51 47 48 142Construction 10 10 11 12 13 15 16 20 19 20 214 26Power, Gas, Water and biewerage 1 1 2 2 2 3 3 3 3 3 4 5Commerce 28 32 32 34 34 31' 38 46 46 53 56 59Transport, otorage and

Communi-cations 9 9 9 9 9 11 12 13 15 16 16 18bervi ces 60 614 66 68' 68 72 75 88 88 101 104 110Canal Zone 18 19 19 20 20 20 21 20 23 22 22 214

Unemployed 3 28 26 21 27 29 20 25 31 30 33 36 ,

Agriculture 2 2 1 1 1 1 1 2 2 2 2 2Manufacturi-ng 2 2 2 1. 1 2 2 2 3 3 3 3Construction 4 3 2 2 1 2 2 2 2 3 3 -4Power, Gas, Water and bewerage - - - - - - - - - - - -Commerce 3 3 3 2 2 2 2 3 3 3 4 4

(continuued)

Table 1 L lABOR Ff)RC. iNlD EMPLOYMEiNT BY JECTCR, 1960-1972 Page 2 of 2(thousands).

Economic bector 1960 1961 1962 1963 196L> 1965 1966 1967 1968 1969 1970 1971 ,972

Transport, btorage andCommunication - - - 1 1 1 1 1 1 1 2

5ernVi.ces 8 7 6 5 5 6 5 6 6 8 10 11Canal Zone 2/ 3 2 2 2 1 2 1 1 1 1 1 2Nv NWlorkers 7 8 9 8 15 12 6 8 14 9 9 8 1L

Note:Includes work force 15 years of age or older; excludes indigenous population and collectives; 1961-1962 areinterpolated; 1971 is not strictly comparablo wi.th prior years because of revised classification system thatchanged some manulfacturing to services.

~/ Includes about 500 workers in mining activitiesg/ iUnemployed hunting for employment for first time

bource: Controller General

*~ *S

Table 1 .6 : P`UBLIC; EDUCATlONAL INDICATORS, 1950 - 1971

Annua1l Annual AznuaiAverage Average Average

1950 Growth 1960 Growth 1968 Growth 1971

Primary SchoolsGovt. Current Expenditures for

primary Schools (B. thousands) 3,969.5 6.3 7,316.0 10.9 16,770.9 11.2 23.068.7priimary Students 103,932 3.8 150,892 4.1 208,817 9.4 273,324Cost per Student (Balboas) 38.20 2.4 48.50 6.5 80.30 1.7 84.40Cost per Student/Per Capita

National Income(%) 14.4 - 15.3 - 15.6 - 13.5R-tudents/ acher 32.4 - 30.0 - 29.7 - 28,6

Secondar SchoolsGovt. Current BExpenditures for

Secondary Schools (B.thousands) 1,838.5 6.o 3,278.0 11.7 7,952.9 14.4 11,915.6Secondary Studerts 14,722 4.7 23y,249 7.5 41,370 13.3 60,150Cost per Studentr (Balboas) 124.90 1.2 141o00 3.9 192.20 1.0 198.10Cost per Student/Per Capita

National. Income (%) 147.2 - 144.5 - 37.3 - 31.7Students/Teacher 21.6 23.2 - 21.6 _ 19.9

Total ducation IndicatorsAppropriate age group enrolled aspercent of appropriate age group:

primary n.a. 85.14 85.9 939°secondary n.a. 24.2 30.9 36.2

Public Current Expenditures onEduoation/Public Current Expenditures 27.6- 26.0 26.14 214.5

1/ Central Government only; after 1950 includes current expenditures of Ministry of Education, Universiyf Panama,T AR;HU, aInd other public educational entities.

2/ Estimated by mission.

Sojjrces: Ministry of Education; Controller General; "Statistics for th,e Analysis of the Education Sector,Panama", AID; and mission estimates.

Page 1 of 3 pages

Table 1.7 TOTAL PUBLIC AND PRIVATE 6CHOOLI, TEACHF196, A->D bTUDENTh, 1950, 1957-1973

Total Preprimnary Primary becondary University bupplementany

1950bchools 1,028 950 78Teachers 4,371 3,415 9596tudents 130,028 - 110,059 19,969

1957.snhooTls 1,34~7 614 1 ,155 872 39Teachers 6,370 104 4,612 1,340 175 139btudents 182,336 3,054 1 42,576 30,797 2,927 2,982

1958Schools 1,352 53 1,159 97 2 LiTeachers 6,5214 93 4,633 1,470 185 1i43students 188,345 3,000 145,580 33,312 3,406 3,0147

1959bchools 1,454 58 1,239 106 2 49Teachers 6,942 97 4,932 1,581 176 156Students 201,454 3,136 155,543 36,141 3,509 3,125

1960Schools 1,542 62 1,298 127 2 53Teachers 7,1471 104 5,309 1,704 191 1636tudents 211,434 3,269 161,800 38,964 14,030 3,371

1961Schools 1,630 72 1,372 137 2 47Teachers 7,882 1114 5.,550 1,861 212 145bitudents 224,707 3,533 171,159 42,251 4,374 3,387

Page 2 of 3 pogcu

Table i.7 : TOTAL PUJBLIC2 AND PRIVATE 6CHOOI%S TEACHERS5, AND 69 TDThb, 1950, 1957-1573

TOta8.t Preprimary Priiaary -scondai7 University and Special. and.. �__ �! ...............................................N.ursin, SuTplementary

1962:Schools 1,665 72 1,392 138 2 61Teachers 8,142 108 5,616 2,009 240 169Students 236,932 3,532 179,794 44,657 5,233 3,716

1963Schools 1,714 84 1,419 119 2 60Teachers 8,696 131 5,923 2,171 270 201Students 247,871 4,190 186,719 47,171 5,603 4,188

1964Schools 1,821 90 1,503 164 2 62Teachers 9,252 139 6,061 2,524 309 219Students 261,,450 4,276 196,412 51,024 6,166 3,5/2

1965Schools 1,909 99 1,5580 190 3Teachers 9,698 152 6,391 2,638 361 156

Students 273,340 4,825 203,429 54,906 7, 2147 2,933

1966Schools 1,932 100 1,620 181 3 26Teachers 10,206 151 6,672 2,815 396 172Students 285,124 5,173 210,628 58,517 8,113 2,693

fage 9 of 3 pagesTable 1.7: TOTAL PUBLIC AND PRIVATE SCHOOLS, TEACHERS, AND bTUDENTS, 1950, 1957-1973

Total Prepim ary Primary Secondary University Special andand Nursing Supplementary

1967Schools 1,9140 111 1,618 1714 3 314Teachers 10,884 176 7,081 3,034 417 1766tudents 298,293 5,705 218,475 62,533 9,265 2,315

1968Schools 1,851 117 1,519 178 3 34Teachers 11, 525 181 7,412 3.310 1L55 167Ltudents 308,009 6,198 222,513 66,735 10,083 2,1480

1969Schools 2,031 121 1,679 190 2 39

Teachers 12,218 178 8,048 3,14114 1413 165Students 326,279 6,235 238,593 70,851 7,252 3,3148

1970ichools 2,150 130 1,7814 192 2 142

Teachers 13,419 218 8, 717 3,784 448 252Students 352,942 6,921 255,287 78,1466 8,159 14,109

1971 LSchools 2,381 155 1,971 207 2 146Teachers 15,610 257 10,004 4,460 566 323Students 1400,268 7,764 287,565 86,795 13,1456 L,688

1972 4Schools 2,559 170 2,127 212 2 14Teachers 16,986 65 10,689 5,017 575 340otudents 1436,543 8,937 305,651 98,836 17,000 6,119

Note: Primary teachers include only those wi-th a specific grade under their charge. After 1969 the nursing school becaxriepart of the University of Panama. A private university began iii 1965. After 1959 students and teachers calculatedin July, the mid month of the school year; before that calculated on average monthly registration. In 1972,university and special students estimated by mission.

oource. M4ini.stry of Education, Controll.er General, and mission estimates.

Table 1. 8 : SECONDARY STUDTNTS BY TYPE 0F COURiSE, 1959/1960, 1965-1971(No. of students)

1959/60 1965 1966 1967 1968 1969 1970 1971

Total 36,055 54,789 582h08 62,396 66,569 70,599 78,259 86,847

tt&!t_~~~~~~~~~~2Z& 1/t0 27,36538 2LL O,852irst Ccle 20,72 27__653 30,013 3171 35,~266 3687 082 jj35

Second Cycle, Non Vocational 6 441 8,3X6 8 952 9 391 10 21h 10 759 12 262 13 132Academic ,d34 6,955 7,639 _ ,913 9,033 1,06Normal 1,607 1,391 1,313 1,277 1,310 1,726 2,194 2,954

2'

T cni cl-Voati-na1 8. 8 g-,, 18,790 2t9,L3 21 ,30) 21 ,089 22,?953 25,145 2Z,32fiBasic CycleI 473 27,362Agriculture 77 229 286 316 395 352 462 o66Commercial 4,573 8,756 8,790 10,199 10,276 12,521 13,463 1b,546Domestic arts 2,676 L,124 4,288 4,206 4,145 3,659 3,850 4,009Industrial arts 1,568 5,545 5,902 6,409 6,134 5,975 6,472 6,519Nautical - 110 145 148 105 91 76 84Other 26 32 26 34 265 344 306

1/ First three grades at general studies2/ Includes vocational and technical students in first three secondary grades - equivalent of first cycle3/ In April 1970 the basic cycle was established; it allows vocational and technical students a broader

preparation before specializing in the respective fields.

Source: Ministry of Education

* . *1 @

* * £Table 1. U NTIVRSITY OF PANAMA INDICATORS, 1950, 1960, 1965-1972

1950 1960 1965 1966 1967 1968 1969- 1970 1971 1972

Professors 88 14b 284 308 330 369 343 368 L84 521.

Students 1/ 1,519 3,915 6,859 7,650 8,730 9,579 6,527 7,553 12,8h9 15,752

Graduateas 3/ n.a n.a. 386 396 526 711 498 421 556 n,a.

Goverment Subsidy (B. Thous.) 302 1.023 2,350 1,631 2,794 4,301 3,611 5.513 5,859 7,146

University Current E.penditures (B.Thous)nea 1,123 2,754 3,045 3,144 4,656 3,4140 5,799 6,883 8,906

Students per Professor 17.3 27.2 24.2 24$.8 26.5 26.5 19.0 20.5 26.5 29.9

Subsidy per student (Balboas) 200.00 261.30 342.60 213.20 320.00 449.00 553.20 729.90 456.00 1453.70

Current Cost per student (Balboas) n.a. 286.80 4t1.50 398000 360.20 486.00 527.00 767.80 535.70 565.40

Graduates/Students (%) n.a n.a. 5.6 5.2 6.0 7.4 7.6 5.6 4.3 n.a.

1/ Excludes students enrolled in regional centers; these varied eratically by year, e.g. from 2,300 in 1967 to 650 in1969 and then to 1,100 in 1970.

2/ The university was reorganized in 1969, leading to temporary falls in enrollment in 1969-70I/ Includes graduates from regional centers; hence the graduate/students ratio is biased upwards.

Source: Controller General and Table 5.34

.II

NATICNAL ACCOUNTS

Table 2.1: INDUSTRIAL ORIGIN OF GROSb DO.TIC PRODUCT AT CONSTANT PRICES, 1950-1972 Page 1 of 2

(uillions of 1960 Balboas)

1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961

TOTAL GRO;S D0nfTIC PRODUCT 2L 2 , 70.7 287.2 gL. _ , o.6 8(at market prices)

Agriculture 74.5 70.8 68.6 78.0 79.2 86.0 82.5 91.4 92.5 98.7 95.7 105.1

Yining 0.6 0.7 0.7 0.7 0.8 0.9 0.9 0.9 0.8 1.1 1.1 1.2

Manufacturing 23.5 25.5 30.2 30.7 30.6 33-2 36e 5 I. 1 4

Table 2.3 3 ,I I.TAI OCF-J( UV' ('>.C' e X)Xij".;.^ 1LUDU ?i, "I ),),I, AT GONLfTAN-'T P.?fICIO.'t,5 3 950 C' c92 2

(mi i l,iorns of 19&0 Balboas)

1962 1963 196h 1965 1966 196? 1968 1969 1970 1973 1972

TOTAL GROoF DOIAETIC PA)DUCT 498.9 541.5 565.5 617.3 664.1 720.9 771.2 836.3 894.5 972.6(at mr-ket- pŽ4LesY

Agrc. ulture 107.7 11.3.4 lA18.5 132.2 139.2 145.6 15h.o 162.3 161.1 16'7.1 178.0

Enirng 1.5 1.8 1.8 1.7 1.9 2.0 2.1 2.4 2.3 2.6 2.7

Manufacturi ng 75.3 85.6 o 0.5 98.1 10'1.0 120.1 131]7 1440-0 153.6 166.7 177 .4

Construction 28.2 31.7 29.9 34.9 38 I4 43.5 46.3 47.5 54.0 64.1 69.i

KLectri cIty Cas, G WI ator arndbewrerae ,10.0 11.1 12.2 14.5 15.0 16.3 18.9 23.5 26.0 30 J4 34.3

Transport, btorage andComaun:ications 24.3 26.6 29.1 32.9 36.7 bl.1 43.9 51.5 59.6 68.o 7401

Commerce 71.5 77.4 82.7 85.8 92.0 99.9 106w9 115.7 126.6 135.9 149.2

Financial Intermediation 12.5 15.0 15.2 17.6 18.8 21.2 22.5 30.0 34.8 39,9 45.8

Housing 37.7 40.3 40.6 143.4 46.1 49.6 52.7 55.4 60,1 66.5 71.6

Public Administration 12.9 14.7 1491 15.7 17.4 19.1 21.3 21L9 23.14 25.3 26.8

Other Public and Private bervices 77.7 81.2 83.6 89.1 95.6 101.5 105.3 110.8 122.7 132.8 143.2

Canal Zone bervices - 39.6 42.7 47.3 51.4 56.0 60.7 65.6 71.3 70.3 73.3 73.0

1/ While the Canal Zone services include activities in many sectors, Panama allocates the value added byCanal Zone workers in a separate sector.

bource: Controller General

* J .~~~~~~~

Table 2.2: INDU5TRIAL ORIGIN OF GRO.5bb D0I21bTIC PRODUCT AT CURRENT PRICE., 1950 - 1971 Page 1 of 2(millions of current Balboas)

1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960

GROSo DO]N.ETIC PRODUCT 256.8 263.7 276.0 292.5 307.2 331.5 347.4 382.7 381.6 403.7 415.8(atrmarket prices)

Agriculture 73.7 7h.6 71.0 82.h 88.2 96.0 89.0 97.7 95.2 99.7 95.7

Mining 0.5 o.6 0.6 0.6 0.7 0.7 0.8 1.0 0.9 0.9 1.1

Manufacturing 23.3 25.1 30.3 30.6 30.2 32.0 36.1 42.8 441.6 47.8 54.5

Construction 10.5 11.7 12.4 13.2 13.9 14.0 17.4 20.8 19.2 18.6 22.9

Electricity, Gas, Waterand bewerage 3.1 3.4 3.8 4.1 4.2 4.3 4.5 4.8 5.3 5.5 8.4

Tran3port btcrage andCommunications 10.0 10.5 11.0 11.6 13.8 15.3 16.7 17.3 18.2 20.6 19.3

Commerce 34.3 36.2 39.5 38.5 39.0 41.7 47.0 54.1 49.6 52.4 57.9

Financial Intermediaries 4.4 5.3 5.5 5.7 6.1 6.3 7.0 7.7 8.5 9.8 10.3

Housing 23.0 23.7 24.5 25.4 26.7 27.4 29.4 31.8 31.9 32.7 34.3

Public Admiinistration 6.7 9.2. 10.6 8.5 9.0 8.0 8.7 9.7 10.8 11.7 11.4

Other Public and Privatebervices 44.5 44.8 45.3 48.1 53.3 61.6 65.4 69.7 72.2 77.5 69.4

Canal Zone bervices 22.8 18.6 21.5 23.8 22.1 214.2 25.4 25.3 25.2 26.5 30.4

bource: Controller General

Table 2.2: INDUSTRIAL ORIGIN OF GV0JS DOG48bTIC PRODUCT AT CURRENT PRICES, 19501971 Page 2 of 2kmi llons of current Balboas)

1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971

GRD06 DO0E1TIC PRODUCT 463.7 504.8 559.5 600.8 659.9 719.0 800.7 861.4 1 045.81(at market pre)

Agriculture 112.1 115.8 125.8 138.4 157.7 167.5 181.1 196.2 200.5 200.4 210.3

Mining 1.2 1.5 1.8 1.8 1.9 2.0 2.2 2.1 2.6 2.5 2.8

Manufacturing 6,.5 74.2 86.4 94.6 101.3 109.3 123.7 137.2 150.1 166.4 185.6

Construction 29.4 28.8 32.4 31.0 35.2 40.9 47.4 50.6 51.4 61.2 7U49

Electricity, Gas, Waterand bewerage 8.7 9.5 10.3 11.2 11.9 12.7 13.9 16.8 18.9 19.0 21.9

Transport, otorage andCommunications 22.1 23.0 25.0 28.2 30.8 34.3 38.4 39.6 49.4 56.8 63.7

Commerce 61.7 69.9 77.3 84.6 89.8 96.9 107.2 113.3 127.6 146.4 163.1

Financial Intermediaries 11.2 12.1 15.3 15.9 18.3 21.3 24.0 24.6 34.4 40.3 44.6

Housing 37.2 37.9 40.7 41.3 44.1 47.9 52.3 56.0 59.3 65.5 74.1

Public Administration 9.9 11.1 12.7 12.6 13.7 18.5 20.5 22.4 24.1 29.5 33.0

Other Public and Private'iervices 75.1 81.2 88.8 92.6 102.1 109.6 126.2 132.6 149.6 178.5 199.0

Canal Zone bervices 33.6 39.8 43.0 48.6 53.1 58.1 63.8 70.0 77.5 79.3 84.0

bource: Controller General

0

Table 2.37 EXPENDITURE ON GRCS6 DONF.TIC PRODUCT, 1950-1972 Page 1 of 2(nrllions of current Balboas)

1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960

Consumption 217.2 233.9 252.4 244.7 269.2 281,8 301.3 344.0 339.1 351.9 369.8Private 'f 7T212 .0 221 .0 221 242.0 2T 305.1 295.T 3067 322.9Public 21.1 21 .9 - 31-iJ4 --26 27 .2 35.4 40.7 38.9 43.3 L5.2 46.9Investment 36.0 31.5 32.5 47.1 36.3 42.7 54.0 55.8 63.9 72.0 67.8Private 22.4 227 7 277 :r75 26.5 2 77.7 7 T7 75rT L7yPublic 8.6 6.5 8.1 7.9 6.1 9.3 15.0 7.1 8.9 15.0 12.0Change in zito cks 5.0 2.3 2.5 13.6 3.7 4.2 4.2 6.8 11.3 6 AExports of Goods and

Non Factor iervices 91.6 91.2 93.8 101.6 102.6 113.8 111.3 115.2 106.4 115.4 127.3

Imports of Goods andNon Factor X .jrvices -58.0 -92.9 -102.7 -100.9 -100.9 -106.8 -119.2 -132,3 -127.8 -135.6 -149.1

Gross Domestic Products 256.8 263.7 276.0 292.5 307.2 331.5 347.4 382.7 381.6 403.7 415.8(market plices)Factor Payments -10.6 -11.6 -10.9 -11.3 -16.7 -17.3 -17.3 -18.3 -11.4 -12.3 -12.4

Gross National Product 246.2 252.1 265.1 281 5 314. 2 364.4 '270.2 391.4-- Tt market prices) ---Indirect Taxes, net 19.8 20.0 22.0 22.7 23.8 24.1 25.6 29.0 26.8 28.8 34.6Depreciation 16.2 16.9 18.1 19.8 21.2 23.7 25.2 28.8 28.7 30.9 32.3

National Income 210.2 215.2 225.0 238.7 2h5.5 266.4 279.3 306.6 314.7 331.7 336.5

Tab"le 2.3 EXIPENDITURE ON GBRO- DOME-bTIC PRODUCT, 1950-1972 Page 2 of 2(rillions of current balboas)

1961 1962 1963 19614 1965 1966 1967 1968 1969 1970 1971 1972

Consumption 393.1 416.7 14714.4, 513.4 557.3 579.6 638.8 661.5 733.1 8014.5 880,1 978.5Private ~ ~ E1WT E4W. 492.9 36.-2 ; 611.9 177 7M.1 792.7

Public 149.8 55.9 67.1 65.3 72.4 86.7 102.6 109.7 118.2 149.8 164.0 185.8

est 88.e4 98.9 109.8 1022- 8 157.2 168.4 191.9 222.7 275529 : 9f±I.Private .7 7 9 T2 78.0 121.6 f1.W T. T7rT 157.9 232.9 292.7Public 21.7 21.2 27.0 25.4 22.1 20.5 28.9 33.5 43.3 67.7 67.8 89.0Change in btocks 8.0 13.5 13.2 14.4 15.7 15.1 15.7 18.4 22.0 20.3 21.3 23.1

Exports of Goods andNon Factor bervice 146.3 179.5 197.0 210.8 240.2 268.2 301.7 330.0 362.9 390.1 432.0 449.0

ITmports of Goods andNon Fact.or bervi ces -1 6 .1 -190.3 -221.7 -225.6 9253.4 -286.0 -308.2 -320.0 -373.3 -424.7 -477.1 -520.6

Gross Domestic Products 463.7 504.8 559.5 600.8 659.9 719.0 800.7 861.1. 945.4 1 045.8 )h57 .0 131 1.7(market pAFesIFactor Payments -10.5 -9.2 -8.7 -5.14 -15.8 -16.3 -22.'7 -25.3 -25.3 -26.4 -31.3 -35.1

Gross National Product 453.2 95.6 550.8 595.4 644.1 702.7 778.0 6.1 920.1 1,7019.14 --(m-arket pri-ce-s)T L -~ ~_ ___7

Indirect Taxes, net -38.6 -41.2 -40.6 -43.1 -49.1 -53.6 -59.4 -61.7 -71.4 -83.5 -95.8 -Depreciation -36 .4 -43.0 -48.0 -50.5 -55.8 -60.1 -68.5 -78.7 -86.2 -95.1 -1o6.2 -

National Income 378.1 411.4 1462.3 501.8 5391 .0 6 50.1 f 762.5 810.8 y -

Source: Controller General

*0

Table 2.* EXPENDITURE ON GRI66 D0ME.TIC *DUCT IN CONSTANT PRICE, 1950-72 Page 1 of 2 pages(millions of 1960 Balboas)

1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960

Cons-umtion 213.7 217.4 245.9 237.6 266.1 276.8 289.9 l 3 3 369.8Private 179. -15 199.4 197.6 224. 2 3 250.3 29h.2 292.5 299.4 322.9Public 34.2 37.4 46.5 40.0 41.6 38.0 39.6 37.1 39.3 39.9 46.9

Investment 41.1 32.7 X 49.4 40.7 X46.8 57.2 565.9 74.4 67.8Private 6T 22.7 21. t 27 30.2 3.2 -37.6 4.2 . 1.8 9l.Public 9.6 7.7 9.9 8.2 6.8 10.1 15.4 7.4 9.1 15.7 12.0Change in btocks 5.0 2.3 2.5 13.6 3.7 4.2 4.2 6.8 11.3 6.9 6.h

Exports of Goods andNonFactor bervices 109.8 102.8 102.7 109.2 105.1 113.7 113.5 116.0 110.0 116.1 127.3

Imports of Goods and Non-Factor bervices -105.4 -96.0 -111.7 -109.0 -114.4 -122.6 -129.5 -140.0 -139.1 -137.6 -149.1

Gross Domestic Product 259.2 256.9 270.7 287.2 297.5 314.7 33 .1 365.7 368.6 392.2 415.8

Factor Payments -10.6 -11.6 -10.9 -11.3 -16.7 -17.3 -17.3 -18.3 -11.4 -12.3 -12.14

Gross National Product 218.6 245.3 259.8 275.9 280.8 297.4 313.8 37.4 357.2 1903.4

Table 2__: .gXPENDITUtE ON GROSS DOMQETIC PRODUCT IN CONSTANT PRIC1, 1950-71 Page 2 of 2(millions of 1960 Balboas)

1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972

Con§R%tion 963 20.8 t J 843 68.65Private 34W 3 . 432.1 3. 4769 .2 5 594.8 621.8 678.6 721.1Public 49.8 56.9 61.1 63.8 67.0 74.5 82.3 88.7 87.8 102.4 113.6 122.4

Investment 86.1 970 1.0 22X 112.8 150.2 8.2 .5iA 242.2 276.0 324.9Priv ate \.0 9 .0 0 . 75.4 115.8 1161 130.3 143.7 197.0Public 20.7 23,5 26.8 24.4 21.7 19.3 26.6 30.8 39.8 59.0 57.7 71.3Changes in btocks 8.0 13.5 13.2 14.4 15.7 15.1 15.8 18.4 22.0 20.3 21.3 23.1

Exports of Goods andNonfactor oervices 1h6.3 175.9 195.5 196.0 223.4 245.1 269.4 289.7 309.5 324.5 340.2 330.5

Imports of Goods and Non-Factor bervices -167.8 -194s.8 -228.9 -225.8 -256 .4 -281.9 -303.6 -313.4 -361.3 -396.4 -435.8 -453.7

Gross Domestic Product 4l609 4>98.9 h41,5 .5 617.3 664.1 720.9 771.2 836. 972 172

Factor Payments -10.5 -9.2 -8.7 -5.4 -15.8 -16.3 -22.7 -25.3 -25.3 -26o.4 -31.3 -35.1

Gross National Product 450.14 489.7 532.8 560.1 601.5 647.8 698.2 745.9 8U.0 868.1 941.3

j Provisional

bource: Controller General

*. 0

Table 2.5 : PRIWATE AND PUBLIC GISK: CAPITAL FOJ4ATION AND DTOCK CHAN4GE6 1]9(50-1971 Page 1! 2(ki.lions of 1960 Balboas)

1950 1951. 1952 1953 19511 1955 1956 1957 1958 1959 196r0

Public: 9.7 7.8 10.O 8.3 6.9 10.2 18 7.14 9,7 15.9 11.4

Housing ) - - 6.1 1.41 1.6Nonresidential Buiildinds ) 41.0 2.3 2.4 3.8 3.5Other Construction ) 8.6 7.1 9.7 7.0 5.6 8.1 7.1 4u5 5.6 8.0 5.9Transport and Conmnica- ) 0.2 0.2 0.i 0.2 0.1

tion equipment )Machinery 1.0 o.6 0.2 1.2 1.2 2.6 4.1 0.4 0.9 2.3 0.9Change in 5tocks 0.1 0.1 0.1 0.1 0.1 0.1 0.4 - 0.6 0.2 -0.6

Pri.vate 31.41 211.9 23 .8 i1. 33. .6 bJ.4 1. 56.2 585 56.11Housing 1 11.1 12.8 10.8 15.2 13,3Nonresidential Buildings ) 7.2 7.3 9.0 11.0 14.20thier Const-ction ) 13.8 11.5 8.2 14.2 14.5 180'1 0.3 0.3 0.14 O,4 0.11Transport and Conunica- ) 6.2 7.1 6.8 5.7 8.7

tioii equlip,ment)Nachinexy 12.7 11.2 13.2 13.4 15.7 14.14 12.5 16.7 18.5 19.5 12.8Change in ;;tocks 19 2.2 2.4 13.5 3.6 4.1 3.8 6.8 10.7 6.7 7.0

Total: 41.1 32.7 33.8 419.1 407 46.8 57.2 58.4 65.9 7L.11 67.8*Housing ) -h -28- - - - 1611. 9Nonresidential Buildings ) 31 2 9.6 11.4 14.8 17.7Other Construction ) 22.4 18.6 17.9 21.2 20.1 26.2 7.4 4.8 6.o 8.4 6.3Transport and Coimunica- ) 6.4 7.3 6.9 5.9 8.8tion equipment )

Change in btocks 5.0 2.3 2.5 13.6 3.7 4.2 4.2 6.8 11.3 6.9 6.4

Source: Controller General

Table 2.'- PRTVATE i,ND PUIBLIC GR, C TaPTTI XRWjvkclO AD iTOGY CHAINB3:3, 1950-1971 Page 2 of 2(..llions of 1960 Balboas)

1961 1962 1963 196)4 1965 1966 1967 1968 1969 1970 197'

Public 20.3 214.1I 27.6 25.0 22.7 18.9 26.2 30.5 a .8 5838 8 96.Homsing 14.1 5) J. 6.2 7e6 2.1 2 .5 2.5 2.2 2.14 4.9 7.8Nonresio.ential Bldgs. 3.7 14.2 3.6 2.7 5.7 14.7 7D3 8.7 10.2 9.3 12.6Other Constr.uction 10.9 11.14 15 .9 13,1 12.14 9.5 13.8 16.8 lll.8 25.6 30.0Transp. and Cora equip. 0.1 0.2 0.1 0.1 0.3 0.3 0.3 0.1 0.14 )43 1.3Machinery 1.9 2.3 1.0 1.5 1.2 2.3 2.7 3.0 12.0 114,9 5 .8Ctarnge in btocis -0.4 0.9 0.8 o06 1.0 -0.14 -0.4 -0.3 2.0 -0.2 1.9

P r-i va.te o65.8 72.6 81.4 74.1t 90.1 131.3 137.3 149.0 163.7 133.h 216.4l 1iou~g .2 i7X? 2f T 5, TET -2 1 1 .T T7 7 $ 31 ' 7.7Nonresidential Buildings 10.1 10.9 10.14 12.6 12.5 25.1 20.9 23.1 33,6 30e0 148.9Otler Construction. 0.3 0.14 0,4 0.14 0.5 0.8 0.8 0.8 1,1 1.2 1.6Trantlport anid Cm):tequip. 10.5 11.9 12.1. 11. 2 1.5,0 19i.6 16.2 26.2 26.2 41.l4 37,8Machrinevy 28.3 24.8 214.8 22.8 29.3 45.9 49.6 1.1 46.6 48.8 57.0Ch ange in btockz 8.1 12.6 12.14 23.-I 114)7 156 1662 18 7 2(aO 20a5 14

Total 86.1 97,0 109.0 99 4 112.8 150.2 158*5 179.5 205e5 2142.2 276.0Housing 127 3 17h 17 21F 2 20.2 29.1 3; tW E7Nonresiden-tiel Bdgs. 13.8 151 1)4,0 11. 7 18.2 29.8 28.2 31.8 43.8 39.3 61.5Other Oonstuction 11.2 11,8 16.3 13.5 12.9 10.3 14.6 17.6 15.9 26.8 31.6Transp. & Com. equipment 10.6 12.1 12.2 11,3 15.3 19.9. 18.5 26,3 26.6 Vo7 39.3Machinery 30.2 27.1 25.8 214.3 30.5 .48.2 52e3 51.1 58,6 63.7 62.8Change in btocks 8.0 13.5 13.2 ll' Li 15.7 15.1 15.8 18.14 22.0 20.3 21.3

Source: Controller General

* I , * . *

Table 2.6 DISTYLBUTION OF NATIOINL INCO1S, 1950 197i Page 1 of 2 pages(millions of current BaLboas)

1959 1951 1952 1953 1954 1955 1956 1957 1958 1959 19o0

NatiDnal Income 210.2 215.2 225.0 (2).7 2h5.5 266.i4 279.3 306.6 J1b.7 331.7 336.5

Wages, oalaries andProfessiona-. Earnings 178.5 187.2 198.8 198.5 220.6 226.5 238.9 270.2 262.1 274.2 266.5

Other Family and Non-rCorporate Income 14.5 15.2 16.1 6.1 17.9 18.4 19 -4 21.9 21.3 22.2 23.4

Corporate savings 8.3 4.6 0o6 1le2 -3.6 10.0 7.4 2.7 16.7 22e6 30.4

(Private Corporations) (8.3) (4.6) (0.6) (10.3) (-4.6) (8-5) (5.9) (1.6) (15,7) (21.3) (29.2)(Public Corporations) - - - ( 0.9) ( 1.0) (1.5) (1.5) (1.1) ( 1.0) ( 1.3) ( 1.2)

Direct Taxes on PrivateCorporations 2.0 2.A4 2.4 4el 5.1 6.5 6.2 4.4 7 4 5.1 7.7

General Government Incomefrom Property and Corps. 7.5 6.6 7.9 9.4 6.4 6.o 8.5 8.9 9.3 9.3 10N0(Direct Profit,s) (4-8) (4.1) (4.1) (4.2) (4.3) (4.0) (4.8) (5.0) (4.8) (4.7) (6.2)(Other earnings, interests

and dividends) (2.7) (2.5) (3.8) (5.2) (2.1) (2.0) (3.7) (3.9) (4.5) (4.6) (3-8)

L-ess: Interest on Public Debt o.6 o 0.8 0.9 0.9 1.0 1.1 1.5 2.1 1.7 1.5

Table 2.6 : DISTRIBUTION OF NATIONAL INOOME, 1950-1971 Page 2 of 2 pages(milions of current Balboas)

1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971

NatioIal Income 8 il. 1 411.4 162. 501.8 53.1 1 695. 762.5 8LO.8 923.7

Wages, Laalaries andProfessional Earnings 303.3 329.0 361.6 399.9 428.4 470.9 522.9 573.3 637.3 677,1i 732.5

Other Family and Non-Corporate Income 23.4 23.9 27.1 25.4 26.4 28.8 28.3 27.5 33.3 36.4 414.7

Corporate savi ngs 34.3 37.2 50.5 51.4 56.9 55.3 59.2 52.5 46.3 73.2 93.0(Private Corporations) (34.0) (36.4) (48.3) (50-0) (54.9) (53.6) (57.1) (51.0) (42.8) (68.1) (87.2)(Public corporations ) (0.3) (0.8) ( 2.2) ( 1.4) ( 2.0) ( 1.7) ( 2.1) (1.5) ( 3.5) ( 5.1) ( 5.8)

Direct Taxes on PrivateCorporationis 7.2 10Q7 10..9 12 14 14.6 20eO 2) 8 27e5 28.9 36.1t 39%3

General Government Incomefrom Property and Corps. 11.9 13.5 15.6 16.9 17.0 18.7 19.9 20.0 23.1 25.0 27.9(Direct Profits) (7.6) (8.3) (10.0) (11.2) (10.8) (12.1) (13,7) (13.6.) (16.1) (18.1) (19.0)(Other earnings, interests

and dividends) (4.3) (5.2) ( 5.6). (5.7) ( 6.2) ( 6,6) ( 6.2) ( 6.4) ( 7.0) ( 6.9) ( 8.9)

Less: Interest on Public Debt 2.0 2.9 3.4 4.2 4.2 4.7 5.0 5.1 6.4 7.6 13.7

Source: Controller General

* ~~~*

Table 2.7 Projection of Gross Domestic Product by Sector Origin, 1972-1980(Millions of 1972 Balboas)

Estimated _______Prolected Akvg Annualgrowth

1972 1973 1974 1975 1976 1977 1978 1979 1980 (%)

Gross Dome/tic Product 1,311.7 400.0 1,495.2 1,597.3 1.707.0 1,825.6 1,958.6 2,097.5 2,248.0 7.0

Agriculture 232.4 244.0 256.2 269.0 282.5 296.6 311.4 327.0 343.4 .5.0

Minirng 3.1 3.3 3.4 3.6 3.8 4.0 10.0 12.0 15.0 21.7

Manufacturing 212.0 226.8 242.7 259.7 277.9 297.3 318.2 340.4 364.3 7.0

Construction 87.4 93.5 100.1 107.1 114.6 122.6 131.2 140.3 150.2 7.0

Electricity, Gas, Water, andSewerage 24.8 29.0 31.7 35.8 40.4 45.7 51.6 59.3 65.9 13.0

Transport, Storage, andCommnications 1/ 72.0 77.8 84.0 90.7 98.0 105.8 114.3 123.4 133.3 8.0

Coemarce 185.3 200.1 216.1 233.4 252.1 272.3 294.0 317.6 343.0 8.0

Financial Intermediaries 55.0 60.5 66.6 73.2 80.5 88.6 97.4 107.2 117.9 10.0

Housing 85.7 90.8 96.3 102.1 108.2 114.7 121.6 128.9 136,.6 6.O

Public Administration 37.0 39.6 42.4 45.3 48.5 51.9 55.5 59.4 63.6 7.0

Other Services 232.5 251.1 271.2 292.9 316.3 341.6 368.9 398.5 430.3 8.0

Canal Zone Services 84.5 84.5 84.5 84.5 84.5 84.5 84.5 84.5 84.5 0.0

1f Includes Colon Free Zone.

Source: Mission Estimates

Table 2.8 Projected Expenditure on GNP; 1972-1980(Millions of Current Balboas)

Estimated -_ P_6jected ___1972 1973 1974 1975 1976 1977 1978 1979 1980

Consumption 978.5 1,088.8 1,206.0 1,332.7 1,468.2 1,589.6 1,699.3 1,902.7 2,136.1

Private 792.7 893.7 991.4 1,096.6 1,208.5 1,304.0 1,385.1 1,550.8 1,742.0Public 185.8 195.1 214.6 236.1 259.7 285.6 314.2 351.9 394.1

Investment 404.8 435.4 473.1 510.0 541.5 601.7 651.2 665.0 674.2

Private. 315.8 317.2 348.4 378.8 411.2 456.7 495.2 505.0 515.5Public 89.0 118.2 124.7 131.2 130.3 145.0 156.0 160.0 158.7

Exports of Goods and NFS 449.0 495.1 546.2 602.9 665.8 735.7 863.3 954.6 1,055.6

Imports of Goods and NtS -520.6 -573.8 -632.4 -695.0 -760.3 -831.8 -913.3 -i AQi 0 -l.A00.0

Gross Domestic Product 1,311.7 1,445.5 1,592.9 1,750.6 1,915.2 2,095.2 2 300.5 2. 31275

Factor Payments, net -31.9 -40.4 -46.4 -53.4 -58.7 -64.6 -111.0 -122.2 -133.9

Gross National Product ,7_.8 21 405.1 1 56.5 1,697.2 L85 6 .5 2,030.6 Ll.5 2399. 2632.0

Major Assumptions: 1. Public investment and consumption as projected in fiscal projections.2. Private investment in hotels and other services will proportionately replace housing construction during 1974-1976 and major mining

investments begin in 1975 through 1980, although some copper exports begin in 1978.3. Import propensity will be constant.4. Exports of goods grow at only 8 percent during 1972-1978, but most service exports grow at 15 percent yearly.

Source: Mission Estimates

* . * b~~~~~

III

BALANCE OF PAYMENTS

Table 3.1 : BALANCE OF PAYMENTS-CURRENT ACCOUNT, 1950-72 Page 1 of 2 pages

(thousands of dollars)

1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960

Trade Balance -30 371 -32 079 -41 512 -36 981 -33 6)41 -28 921 -42 262 -54 661 -53 685 -54,125 -69,222Exports /1 ~3 433,60 40!394 tT-,4p6ITports 71 66,o64 65,429 72,480 70,350 71,369 73,981 82,856 98,036 94,141 98,239 108,063

Services (Net) 22,343 16,937 21 427 25 612 18,942 18 832 19 451 21 460 22 203 23 327 40,9457etegt ~and Insirance --- ,T 9 -8, 5 - - 7,0143 -&,7t0 -O , T 3 -1 3,170

Receipts ( 15) ( 9) ( 19) ( -) ( 1) ( 3) ( 4) ( 4) ( 3) ( 4) ( 87)Paymienlts ( 7,L1_) ( 3,177) ( 8,911J) ( 8,508) ( 7,044) ( 7,149) ( 8,784) (10,217) ( 9,573) ( 9,890) (13,231)

OtUer Transport 1,004 1,385 2,719 3,499 3,423 2,864 2,629 3,664 3,851 3,815 2,686Receipts ( 3,400) (3,718) ( 4,538) (5,553) ( 5,666) (5,621) ( 5,540) ( 6,597) ( 7,183) ( 6,788) ( 6,4)46)Payments ( 2,396) ( 2,333) (1,819) ( 2,054) ( 2,243) ( 2,757) ( 2,911) ( 2,933) ( 3,332) ( 2,973) ( 3,760)

Travcl 26,555 26,057 26,996 25,905 27,777 27,957 28,605 28,169 18,847 18,416 21,070ReceLpts (23,28C) (29,285) (30,557) (29,558) (30,332) (30,943) (32,261) (32,059) (24,106) (25,972) (27-641)Payr ents ( 2,725) ( 3,228) ( 3,561) ( 3,653) ( 2,555) ( 2,986) ( 3,656) ( 3,890) ( 5,259) ( 7,556) ( 6,571)

Investment Income -11,659 -11,959 -11,289 -11,817 -17,177 -17,797 -17,790 -18,912 -12,129 -13,290 -10,183Receipts ( 1,386) ( 1,412) ( 1,396) ( 1,250) ( 1,700) ( 2,000) ( 2,000) ( 1,900) ( 1,900) ( 2,000) ( 2,250)Payments (13,045) (13,367) (12,685) (13,067) (18,877) (19,797) (19,790) (20,812) (14,029) (15,290) (12,433)

Other Services 13,844 9,618 11,896 16,533 11,962 12,954 14,787 18,752 21,204 24,272 40,514Receipts (18,534) (14,679) (17,373) (22,052) (18,498) (20,485) (22,384) (29,954) (31,123) (36,092) (53,016)Payrents ( 4,690) (5,061) (5,477) (5,519) ( 6,536) ( 7,531) ( 7,597) (11,202) ( 9,919) (11,820) (12,502)

TranaLersNe- 3,409 - 3 192 - 2 369 - 1 858 - 830 458 1,476 2 557 2 854 868 842Private -IWTT W - 3,067 T,963 -14,070 -23,776 TtJ -- tTT -77 T, T Receipts ( 650) ( 761) ( 940) ( 896) (1,239) ( 2,487) ( 2,912) ( 3,281) ( 3,166) ( 2,827) ( 3,045)Paynents ( 5,063) ( 5,341) ( 5,792) ( 5,963) ( 6,202) ( 6,557) ( 6,688) ( 7,316) ( 7,478) ( 8,080) ( 8,417)

Government 1,004 1,388 2,483 3,209 4,133 4,528 5,252 6,592 7,166 6,121 6,214Receipts ( 1,102) ( 1,653) ( 2,786) ( 3,338) (14,237) ( 4,634) (5,395) ( 6,762) ( 7,362) ( 6,317) ( 6,445)Payments ( 98) ( 265) ( 303) ( 129) 1014) ( 106) ( 143) ( 170) ( 196) ( 196) ( 231)

CuRRENT ACCOUNT BALANCE 11,1437 -1 8334 -22,454 -13,227 -15,529 - 9,631 -21,335 0,644 -28,628 -29,930 -27,37

Table 3.1 BALANCE OF PAYMENTS-CURRENT ACCOUNT Page 2 of 2 cages

(thousands of dollars)

1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 /2

Trade Bailarce /1 -81,994 -84 576 -90 365 -85,716 -99,582 -114,238 -123 059 -128 639 -152 529 -200 665 -226 160 -2,60189t77 7 103,334 1i7, 130, 7T -146,369

DTorts 71 123,142 144,588 162,985 167,721 192,163 217,572 232,262 246,088 285,026 331,014 363,953 407,006

5ervice

Table 3. 2 BALANCE OF PAYMENTS - CAPITAL ACCOUNT Page of 1 of 2 pages

( thousands of dolla'rs )

1950 1951 1952 1953 1954 1955 1956 1 95 7 1958 1959 1960

2JRu?,REB ACCOUJNT BAI.ANTCE -11,437 -1 8 ,331i -22,457 -13,227 -15,529 -9,631 -21,335 -30,61h1h -28,628 -29,930 -27,437

Private direct irvestmenL. 300 10,600 1,200 6,100 7,500 2,000 13,500 8,ooo 12,000 12,900 17,292

Other privace long-term /2 -192 1,611 -384 -537 -507 -260 -153 671 -698 1,594 -131

Private qhorc-tenn non-banking capital -327 840 - 55 -2,118 - 43 72 -341 401 -200 -2,701 -1,025

Mediumr, and long-temc government loarts (net) 5,461 -121 1,118 -575 -2,463 664 I4,549 837 9,835 1,081 7,609Disbursements (5,561) (296) (1,500) ( - ) ( 339) (1,260) (5,184) (1,737) (20,480) (1,532) (7,775)Amortization ( 100) (417) ( 382) ( 575) (2,802) ( 596) ( 635) ( 900) (10,645) ( 701) ( 166)

Other govcrnment capital 1,172 1,578 2,602 844 -1,635 238 -193 -297 1,905 250 -2,222

Gold and IMF transactions - - - - - - - - -

Banking sector (net) -1,377 995 -2,975 -1,910 2,846 3,316 -909 10,779 -6,284 8,556 6,501Liabilities (increase +) (-5,510) (12,231) (-1,545) (-1,270) (-2,817) ( -860) ( -860) (-2,187) (12,484) (3,670) (1,039)Assets (increase -) (14,133) (-11,236) (-2,542) (- 365) ( 4,116) ( 6,127) ( - 49) (12,966) (-18,768) (14,886) (5,462)

Errors and Ornmissions 6,400 2,831 20,951 11,423 9,831 3,607 4,882 10,253 12,070 8,500 -587

Table 3.2 BALANCE OF PADEMTS - CAPITAL ACCOUNT Page 2 of 2 pagea

(thousands of dollars)

1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 DL

ClREMNT ACCOUNT BALANCE -20,727 -13,979 -17,580 -13,928 -27,680 -31,290 -27,817 -114,949 -28,941 -63,734 -71,962 -96,835

Private direct investment (net) 31,419 17,838 9,503 2,623 15,159 11,749 4,909 12,584 21,536 33,415 21,768 13,614

Other private long-term /2 1,835 1,624 5,203 4,793 5,091 10,597 8,576 13,842 3,629 6,281 16,745 38,419

Private short-tem. non'hanking capital - 360 4,169 - 1,897 2,613 - 3,270 - 2,767 1,736 - 5,579 - 6,558 - 4,432 - 6,395 419,014

MSediwn and long-terml govarrm~er nt loans 2,923 5,017 7,275 1,3314 4,5814 6,152 3,477 323 35,971 36,416 32,692 21,783Disbursexents (3,121) (5,630) (7,973) (2,948) (6,608) (8,306) (6,027) (3,327) (39,382) (59j456 (o,6O) (48,095)Amortization ( 198) ( 613) ( 698) (1,614) (2,024) (2,154) (2,550) (3,0) 3,411) (23,040) (26,188) (26,312)

Other Government capital. 3,391 -41 5,052 1,431 -923 -1,087 -1,064 -2,595 -2,129 -1,320 854 I8,426

0o-d and IMN transactions - - - - - - - 2,401 430 6,928 10,700 -3,734

Banking sector 9,133 730 -5,448. 23,515 4,395 2,902 14,520 2,664 1o,362 64,036 42,952 63,003Liabilities (increase +) (4,875) (5,685) (1,127) (7,078) (20,937) (43,796) (-1,869) (20,366) (105,166) (187,979) (217,184) (534,294)Assets (increase = -) (4,258) (-4,955) (-6,575) (16,437) (-16,542) (-40,894) (16,389) (-17,702) (-94,804) (-123,943) (-174,232) (-471,291)

Errors and Omissions -27,619 -15,358 -2,108 -22,381 2,644 3,744 -4,337 -8,691 -34,300 -63,734 -25,954 (435,662)

j/ Estimated.2/ Includes borrowing by autonomous agencies.

Source: Controller Generalts Office and mission estimates.

0 0 0

Table 3.3: BALANCE OF PAYMENTS CURRENT ACCOUNT - CANAL ZONE Page 1 of 2 pages

(thousands of dollars)

1950 1951 1952 1953 19514 1955 i1956 191? 1958 t 19 1960

Row. Ipts 417,714 43j,459 46,838 45,266 45.,209 50,085 49,125 53,869 44,6o, 48.,201 63,897Morchan'.11iso, 6,578 6,722 6,930 7,038 6,31'7 8,607 9,023 6,931 5,386 6,118 8,894TreE.el 244,474 24,104 214,524 214,5714 24i,O00 214,475 23,633 22,1[21 14,1428 114,128 13,264Govormonent Senriees 446 1460 470 1486 1407 549 617 598 313 305 71 9Otbelr &. vrices 15299 11,418 13q97?9 129 2714 12,697 114,6014 13,960 21,1428 21,729 2tll933 38,09)4Pii-vae Tra:fers 644 755 935 894 1,188 1,850 -1,892 2,149l 2,7,44 2,657 2,925

Pa&i;nt

Table 3. 3: BALANCE OF PAYENTS CURRENT ACCOUNT - CANAL ZONE Page 2. of 2 pages

(thousands of dollars)

1961 1962 1963 19614 1 965 1966 197 1968 1969 1970 1971 19712

Receipts 72,566 85,524 93,846 88,312 98,326 106,975 124,987 139,309 151,605 152,004 158,325 164,043Merchandise 8,972 12,734 17,1409 14,460 17,1433 18,187 20,410 21,252 23,456 22,148 23,003 24,201Travel 15,965 19,445 21,109 16,727 21,407 20,4.94 30,744 33,885 35,796 37,291 28,566 39,729Government Services 773 1,302 1,308 2,498 3,159 4,157 5,020 4,855 6,419 7,640 5,214 51494Other Services 43,387 48,607 50,696 51,455 52,836 59,B03 64,334 73,809 79,792 77,622 82,850 84,176Private Transfers 3,469 3,436 3,324 3,172 3,491 4,334 4,479 5,508 6,1142 7,303 8,692 10,443

Expenditu,rs 14,753 13,624 7,092 4,0314. 4,716 5,056 5,246 5,878 5,785 6,200 7,205 7,018Merch.ncnl-me 11,775 10,M)3 4,911 2,001 2,595 2,990 3,143 3,663 3,567 3,I148 4,806 4,568Fraight 1,509 1,536 770 6211 591 ;588 605 702 692 781 816 851Otl-r Transports 226 166 165 153 1146 153 157 175 187 212 220 227Governaent SErv.ces 34 16 20 29 23 23 23 23 23 23 23 27Ot13r Services 1,209 1,243 1,226 1,227 1,361 1,302. 1,318 1,315 1,316 1,334 1,340 1,345

Trade Balance -2,803 2,101 12,498 12,459 14,838 15,197 17,267 17,589 19,889 18,300 18,197 19,633

Services (Net) 57,147 66,363 70,932 68,647 75,281 82,388 97,995 110,334 119,789 120,201 124,231 126,949

Transfers (Net) 3,1469 3,436 3,324 2,172 2,491 4,334 4,479 5,508 6,142 7,303 8,692 10,1443

CU.RRET ACCOUNT BALANCEE 57,813 71,900 . 86,754 84,278 93,610 101,919 119,741 133,431 145,820 145,804 151,120 157,025

Source: Controller General's Office.

* * . .S

TabeWI.A4: SEECTR MAJOR nroRTh, 1953 - 1972

bp~~~~n: 9.15* 19~~~~~~~5.1 1 3595 1919 195 5960 1961 5963 1963 1964 191Ss 1.96 1966 1966 1969 is7o 19jl 1972'

t- ,c%,73 ,71 7,423 9,929 7,454 9,659 7,6`5 6,699. 7.792 9,191 12,295 13,935 1503 7,423 21,559 50,972 22911,1 53,69tOt u"" 3,~~~~~11.rr. ~12,301. 133., 1,q1.2 19. 555l 13,067 11,6.40 13,304, 11,93.1 13,6924 30,44-' a 50n,3 34, 45 42,209t 53, f43 1,241 69,9311 63~503 64.?

Val vl"c(A .Ioo 9.75 X.7 174 1.73 j, I .75 1.79 1,75 1.75 2,96 LO4 2,49 2.79 3.04 2,69 1.99 l,73 74

.m'y76~ 914-, 63 a 9 337 1,501, 1,260D 332. 1.712 950 1,473 743 656 1,631 633? 1,297 1,339 1.787 2:9411,,,,~~~~pt1 41Cm,,, ~~~~79 a 1 497 1,227- 1,199 256 1,412 392' . 1,34.9 790 60 1,597 591l 1.1I12 1,7113 1 ,553 ..

o~~3i ~1,,t (,io)94wc1 1 39.>) 1,23 - - .93 .97 .99 .03 .97 ,96 .95 .93 .95 .95 .94 ,59 1,9'. .9 .A5 745,02

~~.... 32 Icy ~~~~~~~~~0 6 1 3,113-3 3.093 3,726 2,535 4,7?42l 3,314 19,01.3 57,4413 94,;,53> 1U49 0,3 3301 5,94 8,5 3,4221.31 0 43 934 370 493 791 334 1,34 ,O 5-,994 2le 1,50. 391Is 4,644 944 4,9 6,4

6 E4.4 U13, I9, 15,3 15.9 26,3 16.1. vi,e 149 934 9134 i.4 34.12 V,9 15,-3 I-SA G

t - ,433 1,14 1,333 3,39 1,291 1,44 1,163s 1,50 64 14 O? 4.35 193 2?Ž 424; 19 0 9,,. - - 931.4 931~~~~~~~~~~~~'.. 95? ,25 ,.1 735~ 501. 43.3 61.4 101. Y.U1 7- 21.1. 71 31. 3 v,

155 3.. (P '4. ..) .49. .9 .74 .13 .4 .44 .51 .49 .51 A4O .976 .0? 6

0 9 1 11. 2932 2 93 ~~~~ ~~~~ ~~ ~~~~~~~~~~1:50, All2 0 23' 134 1441 3,.i133 331 ,0 11' '-44' .. .. .,,.. .74 ~~~ ~ ~~~~~ ~~~ ~ ~~~~~.79 1,90 n9 .53 .3: - .73 3 ,4 .93 .937 5,061,

133 2,33 571 133 4,056 3,9 5,33 4,3 4,393 5,7 4,A3 4,? 517 ,.3 439 ,4 ,3932.--,.--3 ,4'l.j. ~~~~~2,715 4,43 0 1.1" v ' %1k4 5,09?3 , 5,w 733, 6171,11.3 7,793?7, P.; 9,191. 0,Y'1l 1 6-9 11,953 %,-AonlI ~~~~~~~''' ~~~~ ~~ 1.41 1,43 1,03: 3.33 1,27 1,33 1,33 3,31 LO9 0,1 13 97 1,03 9. 2.21. 5,113 2,90 53.2

ro2lxls- 0 1992 332 401 1,715~~~~~~~~~~~~~~~~~~xj 9 1,92 654S 731 3,9 6,941 13,531i' ,01-13 945.411 9,05 9,41.? 5,590 7,1349&,t,w42 o,.os.-s 3~~~ ~ ~~~ ~~ ~~11 41 SC I.'3 0 133 IN, KL 23~ 113 9 , m!:3 1. vk33 9Ž1. 27o, w w 7919 949 ,4

At.3, w3It . 1.>7.. 335 53,4 114 1, 393 Z 19.3 111.9 31,0 157 521. 12. 4 '9 7 3i.36 13A1 If,6 1,6

t13351½' ~~~~~ 33 -. - - . - ~~~~~~ 475.7 391,7 331.,? 394, 542.0 2311,6 55NM3.4 970.0 103,4 254,4-c n~6 331 2,G ~ 21M19Ot03.1.0? 'lIt, o - -. .. - 13,049 23,43.0 24,541 25,113 13,9417 12,97.0.. 56,057 24,0344 11,405 15,130 i 11,5591,46 is ~ I 21,5s

01w.. ttit'0 19,44. 25- 13, 5955 2495 13,51? 6,979 15,94 19,904 9 .Ie,14 10,1917 9,456 10,631 9,759 6,559 5,533 0,0751 4,59 152.4

LA14a )j,,1. v42 Xlam! uz 67Ei.04 ' 2,,1?t 33479 V.-2?Ž UAS QL9 929 2I IS%$1.9A L0929i1sm U 3Mi

Al ~~ - '.32 3332mj 3 - "2am of r"Z -.z mM L-379t,.,1 mr1 . te; , InPthe 19510, s ls. 5 ,rE prqw.zlle of 332.2(8rTc 93reac318t oftco 1ti Ocoulxw1ot Imm die r.321 3301531033 o18a16ea,t .645.2

soft: a1vtno mQofl at 5aluAa96 to Ceac, iso.

Table 3.5 Value of Imports!/ and Import Duties Pai0y Selected Major Categories, 1958-72

(In thousands of dollars)

1958 1959 1960 1961 __ 1962Effec- Effec- Effec- Effec-- Efec-

Duty tive Duty tive Duty t've Duty tive Duty tiveValue Paid Rate Value Paid Rate Value Paid Rate Value Paid Rate Value Paid Rate

Total 93,713 16,397 17.5 98,257 17,392 17.7 109,198 18,934 17.3 124,186 20,112 16.2 145,211 20,381 14.0

Food products 13,405 2,817 21.0 12,951 2,788 21.5 13,263 2,515 19.0 15,081 2,791 18.5 14,648 2,733 18.7Meat products 1,687 254 15.1 1,091 304 27.9 1,436 401 27.9 1,634 436 26.7 1,461 412 28.2Honey and milk products 1,633 111 68.0 1,832 132 7.2 1,916 134 2,053 141 2,123 154Cereals 3,010 465 15.4 3,392 521 15.4 3,585 525 14.6 4,591 696 15.2 4,293 671 15.6Fruits and vegetables 3,303 683 20.7 3,380 678 20.1 3,104 566 18.2 3,461 635 18.6 3,369 585 15.6Other prepared foods 1,933 1,048 54.2 1,259 876 69.6 1,086 598 1,136 585 51.5 943 597 63.3

Beverages and tobacco 2,193 2,072 94.5 2,089 2,584 123.7 2,818 3,416 121.2 2,804 3,424 122.1 3,821 4,46S 116.9Beverages 856 1,400 i63.6 1,226 2,012 164.1 1,559 2,574 165.1 17?00 2,659 156.4 2.717 3,687 135.7Tobacco 1,337 671 50.2 863 572 66.3 1,258 841 66.8 1,104 765 69.3 1,104 781 70.7

Raw materials, non-edible,not including fuel 1,195 245 20.5 1,352 182 13.5 1,053 171 16.2 1,470 311 21.2 1,791 482 26.9

Fuels arid lubricants 9,674 3,587 37.1 10,310 3,815 37.0 10,813 3,893 36.0 11,041 4,319 39.1 27,095 2,611 9.6

Animal and vegetable oils 366 248 67.8 387 236 61.0 228 128 56.1 424 144 34.0 448 153 34.2

Chemical products 9,710 1,080 11. 10,897 1,144 10.5 11,367 1,157 10.2 13,252 1,255 9.5 13,803 1,287 9.3Medicinal and pharmaceutical 2,623 369 14.1 2,759 407 14.8 2,811 416 14.8 3,632 450 12.4 4,090 520 12.7Perfumes, soaps, etc. 2,485 403 16.2 2,602 390 15.0 2,930 406 13.9 3,032 445 14.6 2,817 392 13.9

Manufactured goods 24,032 2,157 8.9 24,353 2,319 9.5 29,640 2,581 8.7 33,589 2,616 7.8 34,374 2,807 8.2Leather goods 1,681 216 12.8 1,921 263 13.7 1,977 275 13.9 2,041 279 13,7 2,606 346 13.3Paper and cartons 3,079. 233 7.6 3,127 254 8.1 3,464 271 7.8 4,395 300 6.8 4,888 320 6.5Textiles 8,311 752 9.0 8,443 723 8.6 10,447 809 9,841 756 11,197 872Non-metallic minerals 1,837 178 9.7 1,884 175 9.3 2,154 148 6.9 2,435 174 7.2 2,423 162 6.7Manufactured metals 4,520 368 8.1 4,795 454 9.5 5,745 474 8.2 7,348 449 6.1 6,496 492 7.6

Machinery and transportmaterials 18,815 1,756 9.3 20,864 2,001 9.6 24,139 2,587 10.7 30,273 2,677 8.8 31,831 3,001 9.4Machinery, except electric 8,299 451 5.4 9,317 545 5.8 8,687 526 6.1 13,470 636 4.7 13,492 684 5.1Electrical machinery 4,071 349 8.6 4,544 430 9.5 6,521 572 8.8 7,936 614 7.7 8,796 676 7.7Automotive vehicles 5,791 916 15.8 6,465 996 15.4 8,494 1,452 17.1 8,286 1,381 16.7 9,028 1,587 17.6

Diverse manufactured articles 13,753 2,425 17.6 13,584 2,317 17.1 15,014 2,481 16.5 15,751 2,573 17.0 17,324 2,835 16.4Furniture and accessories 622 140 22.5 591 147 24.9 699 170 24.3 822 163 19.8 869 175 20.1Articles of dress 4,232 850 20.1 4,299 845 19.7 4,732 904 19.1 4,852 899 18.5 5,592 1,022 18.3Clothing 1,398 482 34.5 813 355 43.7 920 359 39.0 1,006 431 42.8 1,236 534 43.2Professional instruments 1,986 196 9.9 2,337 226 9.7 2,647 260 9.8 2,780 268 9.6 3,019 259 8.6Other manufactured articles 4,761 620 13.0 4,726 586 12.4 5,132 618 12.0 5,288 647 12.2 5,456 648 11.9

Miscellaneous articles notabove 570 20 1.8 1,469 6 0.4 863 5 0.6 501 2 0.4 75 3 4.0

page 2 of 3 pages

(CouLt'd). Valtue of Iuports§Jand lmporlw LDuties Paid, By Selected Major Categories, 1958-72

(n_ thousands of dollars)

1963 1919645 1966 _1967Effec- Effece- Effec-

Duty tive Duty tive Duty tive Duty tive Duty tiveValue Paid Rate Value Paid Rate Value Paid Rate Value Paid Rate Value- Paid Rate

Tota 16 5 9. 165,390 16,16 1 9.1 l89 4 982 9.5 L 9 293 21,277 9.3-Food products 15,934 3,077 19.3 18,347 3,502 19.1 17,081 2,995 17.5 18,668 39161 16.9 18,808 3,180 16.9Meat products 1,681 489 29.1 2,111 606 28.7 1,996 568 28.5 2,154 601 27.9 2,323 738 31.8Borsey and milk products 2,201 170 2,284 184 2,468 201 2,560 185 2,879 217Cereals 5,078 907 17.9 5,594 1,054 18.8 4,296 670 15.6 4,669 719 15.4 4,566 656 14.4Fruits snd vegetables 3,667 648 17.7 4,283 736 17.2 3,938 670 17.0 4,718 716 15.2 4,577 697 1.5Other prepared foods 929 553 59.5 1,022 563 55.1 1,099 519 47.2 1,051 516 49.1 947 495 52.3

Beveragen eSId tobacco 1,495 1,600 107.0 1,389 1,345 96.8 1,775 1,626 91.6 1,940 1,930 99.5 2,194 2,159 98.4Bevarages 557 836 150.1 587 750 127.8 845 1,053 124.6 1,063 1,393 131.0 1,199 1,589 132.5Tobacco 933 763 81 3 802 595 74.2 930 573 61,6 877 537 61.2 995 570 57.3Raw materials, non-edi.ble,not including fuel 2,168 470 21.7 2,674 268 10.0 2,128 196 9.2 2,093 208 9.9 1,306 329 25.2

Fuels and lubricants 37,757 234 0.1 35,468 232 0.6 40,348 271 0.7 47,584 284 0.6 47,317 300 6.3Animal and vegetable oils 434 150 34.6 549 210 38.2 602 181 30.1 1,112 291 26.2 790 269 34.0

Chemical products 15,220 1,354 8.9 16,803 1,394 8.3 18,149 1,702 9.4 19,415 1,783 9.2 21,209 1,892 8.9Medicinal and pharmaceutical 4,913 539 11.0 5,272 564 10.7 5,211 663 12.7 5,479 720 13.1 5,661 761 13.4Pefuiaes, soapa, etc. 2,993 408 13.7 3,166 458 14.5 3,519 635 18.0 3,953 653 16.5 4,115 679 16.5MancfAetured goods 39,614 2,879 7.3 38,860 2,886 7.4 47,741 3,358 7.0 50,717 3,470 6.8 57,102 3,838 6.7Leather goods 2,662 353 13-.3 2,802 395 14.1 2,840 423 14.9 2,799 423 15.1 3,324 510 15.3Paper and cartons 8,646 311 3.6 8,265 328 4.0 11,175 370 3-3 12,850 391 3.0 12,192 414 3.4Textiles 11,406 807 12,053 799 14,258 944 14,096 857 17,210 1,042Non-metallic minerals 2,752 198 7.2 2,692 203 7.5 2,980 221 7.4 3,066 243 7.9 3,630 309 8.5Manufactured metals 6,661 548 8.2 6,130 557 9.1 7,095 641 9.0 7,361 701 9.5 .8,315 741 8.9Machinery and transportmaterials 31,275 3,238 10.4 32,125 3,278 10.2 39,881 4,134 10.4 49,663 5,066 10.2 54,150 5,221 9.6Macidaery, except electric 12,294 608 4.9 13,167 618 4.7 1.5,926 782 4.9 19,845 928 4.7 24,343 1,002 4.1Electrical machinery 7,283 631 8.7 7,789 670 8.6 10,094 856 8.5 13,008 1,011 7.8 12,017 979 8.2Automotive vehicles 10,825 1,935 17 9 10,611 1,942 l8.3 13,114 2,438 18.6 16,164 3,057 18.9 16,621 3,177 19.1

Diverse manufactured articles 18,752 3,049 16.3 19,086 3,029 15.9 21,860 3,517 16.1 23,160 3,648 15.8 26,211 4,081 1506Furnituire and arcessories 774 169 21.8 588 150 25.5 822 215 26.2 747 205 27.4 991 230 23.2Artieles of dre3s 5,973 1,111 1B 6 6,250 j,1P:l 17.8 7,162 1,349 18.8 6,887 1,285 18.7 7,759 1,474 19.0Clothing 1,268: 509 40b3. 99b. 407 40 .r9 1,122 390 34.8 1,366 371 27.2 1,460 357 24.4sProfession,al i-nsotrurternta 3,207 284 89, 3,062 2 89 9.4 3,462 330 905 4,092 396 9.7 4,921 467 9.5Other raiiiI ,)g ured . 6,184 711 11,5 6,946 835 12.Q0 *768 945 12,2 8,s267 1 ,043 12.6 8,963 1,158MisceollarLGu rO t

page 3 of 3 pages

(Con,;ludied) Vn I e ,f l.. 'orfCLL Duties Paid, Sy Selected h;jor Cetegories, 1958-72

(In thouaands of dollars)

1968 1969 1970 1971 1972.Effec- Effec- Effec- Effec- Effec'

Duty tive Duty tive Duty tive, Duty tive Duty tiveValuse Paid ate Valuse. _Paid _ Rate Value Pgid Rat- Value Paid Rate Value Paid Rate

Total 243,344 21,085 8.7 278.669 24 h1 23 8.8 326§.352 2.253 8.4 4358.97 29L744 8.3 399 30,139 7.5

Food products 19,897 3,311 16.6 20,890 3,468 16.f* 24,591 3,571 14.5 34,227 3,489 10.2 33,777 3,167 9.4ieELt products 2,473 732 29.6 3,241 923 2805 4,107 833 20.3 4,168 839 20.1 4,779 778 16.3Honey and milk products 2,889 235 3,015 242 3,665 271 4,904 246 5.0 6,830 261 3.8Cereals 5,153 739 14.3 5,343 741 13.9 5,248 752 14.3 11,657 729 6.? 8,022 464 5.8Fruite3 ald vegetables 4,836 761 15.7 4,874 873 17.9 6,&18 1 096 17.1 7,033 1,126 160 7,628 1,154 15.1OŽthter p-u.ted ftoda 75U 449 59.9 657 322 49.0 727 227 31.2 697 107 15.4 788 123 15l6

Beveaege.s wid tolbacco 2,450 2,293 93.6 2,931 2,779 94.8 3,117 3,044 97,7 3,519 3,323 94.4 2,928 2,618 89.4Be Yr.aeE 1,248 1,644 131.7 1,712 2,178 127.2 1,884 2,440 129.5 2,088 2,633 126 .L 1,527 1,998 130.8Tobacc- 1,202 650 54.1 1,219 601 49,3 1,233 604 49.0 1,431 690 48.2 1,401 621 44.3

Raw materials, non-edible,nof includl,n fuel 1,618 326 20.1 1,635 334 20.4 2,774 532 19.2 2,731 615 22.5 2,978 625 21.0

Fvels wio.T ltibricants 52,982 316 0.6 60,572 zC/4 0.6 62J08 390 0.6 66,184 426 0.6 68,105 435 0.6

Ani"l ed vegetable oils 476 198 41.6 1,794 149 8.3 3,209 173 5.4 5,067 18S 3.7 2,645 171 6.5

Chemicl. products 23,991 1,879 7.8 26,752 2,339 8.7 29,165 2,260 .7.7 31,943 2,250 7.0 40,393 2,303 5.7MedlcInal ads phanraceautical 6,587 762 11.6 7,670 1,032 13.4 8,932 969 10.8 9,761 1,000 10.2 15,972 999 6.3PcrfVx-r3, SOP-P, etc. 4,171 643 15.4 4,869 780 16.0 5,212 752 14.4 5,419 695 12.8 6,349 736 11.6

lIane_&ctured. g8Jd6 55,813 3,389 6.1 63,351 3,748 5.9 74,041 4,312 5.8 82,723 4,679 5.7 89,222 4,903 5.5Leather goods 3,469 537 15.5 3,542 577 16.3 4,322 697 16.1 4,814 752 15.6 5,288 785 14.8Paper sad. cartons 12,963 377 2.9 14,724 429 2.9 15,011 564 3.8 15,033 545 3.6 16,009 623 3.9Te.xtilee 14,609 753 17,977 892 21,017 990 24,203 1,012 4.2 30,679 1,106 3.6Non-metallic minerals 4,305 362 8.4 4,715 361 7.7 5,399 399 7.4 6,891 455. 6.6 6,657 473 7.1Manufactored metals 7,967 663 8.3 8,417 768 9.1 10,486 849 8.1 13,674 942- 6.9 12,163 976 8.0

Machinery a-d traneportmaterials 58,502 5,291 9.0 68,134 6,327 9.3 89,860 7,666 8.5 90,354 8,561 9.5 112,846 9,154 8.1Machinery, exceppt electric 22,153 853 3-6 29,022 1,077 3.7 36,077 1,399 3.9 35,502 1,569 4.4 56,047 1,828 3.3Electrical machinery 17,853 1,145 6.4 17,256 1,296 7.5 20,580 1,527 7.4 22,190 1,539 6.9 22,701 1,499 6.6Autou,otive vehiclea 17,335 3,207 18.5 20,653 3,851 18.6 28,879 4,597 1509 30,091 5,317 17.7 31,174 5,618 18.0

Diverse manufactured articles 27,356 4,069 14.9 32,292 4,899 15.2 36,925 5,560 t5.1 41,818 6,197 14.8 46,166 6,749 14.6Furliture end acoeo.Xor.eq 1,144 206 18.0 1,401 290 20.7 2,059 357 17.3 2,152 443 20.6 2,353 497 21.1Articles of dre,se 7,432 1,385 18.6 8,407 1,629 19.4 8,910 1,763 19.8 8,826 2,001 22.7 10,047 2,350 23.4C1othing 1,531 397 25.9 1,881 574 30.5 2,410 730 30.3 2,924 924 31.6 3,240 1,028 10.2Professinanl iuatruments 5,342 447 8.4 5,661 527 9.3 6,447 592 9.2 6,676 588 8.8 10,265 582 5.7Other manufactured articles 9,823 1,254 12.8 11,831 1,430 12.1 14,444 1,699 11.8 15,943 1,750 11.0 16,101 1,715 10.6

Miscellannorun F rtictCnot abovb, 259 12 4.6 317 16 5.0 561 14 2.5 408 16 3.9 250 11 4.4

Source: Comptrol1er General..

1/ Value of imnports, .f.o-b

Ta-bleL3. PANAMA VOLUME AND FOB VALUE IMPORTS OF PRINCIPAL SUPPLEMENTARY POO0 PRODUCTS - ANNUAL, 1958-1971 AND 1972 (9 MONTHS)(Volume im thousand tone, Value in million dollars)

i9538 - -1959 190 196 1962 16-3 19641 . 1965 1966 19716.l 6 '7 ' 9117Coumodity Volume Value volume Value Volume Value Vo1,uo Value Voiwna Value Volume Value Volume Value Volume Value Volume, Value Volume Value Volume Value Voluze Value, Volume Value Volume Value Volume Value

Preapred ue,at 1,2 1,2 0.6 0.5 6.9. 0.7 0.9 0.8 0.9 0.8 1.1 0.9 1.4 1.1 1.2 1.0 1.3 1.2 1.7 1.5 1.8 1.5 2.1 1.6 2.5 .2.6 2.2 2.8 2,1 2,0

Butter 2/0.8 0.6 0.8 0.7 0.9 0.8 1.0 0.8 1.0 ,0.8 1.0 0.8 1.9 0,9 1.1 1.0 1.3 1.2 1.3 1.1 1,4 1.1 1.5 1.2 1.4 1.2 3.2 2.4 1.1 2.3

Cheese 0.6 0.4 0. 0,5 0.5 0,4 0.5 0.4 0.6 0.5 0.6 0.5 0.8 8.6 0.9 0, 0.8 0.7 0.9 0,8 0.9 0.8 1.0 0,8 1.2 1,0 1.3 1.3 1.0 1.1

Rice (Mi1low0) a / t a At A/ 2.4 0.3 3.4 0.5 2.7 0.6 4.3 0.7 0.2 8/1 0.1 at a a/ A/ A/ A/ A,t Al Al 22,5 .4.0 5.5 0.9

Corn a! ! 0.7 ~/ 20 03 53 0.3 0,5 a_50 03 83 . . , t ta t a / 2,3 0.2 5.1 0,4 14.2 1.0 16.0 1.0

Driedl Baeas 1.6 0.3 1.3 0.3 1.2 0.1 1.7 0.3 1.7 0.3 1,4 0,3 2.4 0.6 1.7 0.4 2.0 0.5 1.5 0.3 2.1 0.5 1.9 0.5 2.4 0.6 2.6 *0.7 0.3 0,1

Potatoea 2.8 0.2 2.4 0.2 1.3 0.5 0.7 A/ 0,8 a/ 1.2 0.1 1.4 0.7. 0.3 a/ 0,6 A! 0.7 I/ 1.2 0.1 1.8 0.1 0.7 I/ 2.3 0.1 0,1 8

Onioceam -4 orlia 3,4 0.3 3.6 0,3 3.9 0.3 3.8 0.3 3.4 0.4 4.2 0.4 4.2 0.4 4.0 0.3 3,7 0,4 3.7 0.3 2.9 0.3 1.9 0.2 4,0 0.4 2,6 0.5 1.1 0.2

Laid 3.0 1.3 2.1 0.5 1.4 0.4 1.4 0.4 1.5 0.4 1.3 0.4 1.4 0.4 1.2 0.4 1.2 0.4 1.2 -.2 1.1 0.3 0.8 0.2 0.4 0.1 A/ 8 / 'a'

Edible oill' endmarsarin 0.0 0,.! 0.4 ,_3 0.2 0.2 0.3 0.2 0.2 _0, 0.2 0.2 0.2 _~.dj 0.1 0.1 0.1 0.1 0,1 .uL 0.1 -PA~ 0.1 0.1 0.1 .. is 0.2 .jj 0.1 0..L

TOTAL VALUE 4.5 3.3 3.2 3.8 3.9 4.5 5.5 4.1 4.6 4.4 4.7 5.2 6.4 13.1 7.7

VALUE 07 ALL P0O0

KMELION DOLJaRS 13.4 13.0 13.3 15.2 14.7 13.9 16.3 17.1 18.7 18.8 19.9 20.9 24.6 34.2 23.8

PERMOFT 07 mPOTsOF B0PP1.ECMErAYCOM8DITIES 314 25 24 25 27 28 30 24 25 23 24 25 26 38. 322

l/ Products which aea, or cam be, produced dometically.3/From 1970, includes butter oil,V hcludissg olive oil.

Ne Bgligible or less them 0.03.

Source: Compiled froem data of Controller General of the Republic,

Table 3.7: TERMS OF TRADE, 1950-1971

Unit Value Terms of Trade1960=100 1960=100

Year Exports Imports

1950 83.4 83.5 99.91951 88.7 96.8 91.61952 91.3 91.9 99.31953 93.0 92.6 100.41954 97.6 88.2 110.61955 100.1 87.1 114.91956 98.1 92.0 106.61957 99.3 94.5 105.11958 96.7 91.9 105.21959 99.4 98.5 100.91960 100.0 100.0 100.01961 100.0 97.8 102.21962 102.0 97.7 104.41963 100.8 96.8 104.11964 107.6 99.9 107.71965 107.5 98.8 108.81966 109.4 101.4 107.91967 112.0 101.5 110.31968 113.9 102.7 110.91969 117.2 103.3 113.41970 120.2 107.1 112.21971 127.0 109.5 116.0

Source: Controller General

IV

. PUBLIC DEBT

Page 1 of 4

Table 4.1 e Total Public Sector Debt Outstanding as of December 31, 1972 /1 /2

( thousand US dollars )

Type of Credit Urdi s-Naime of ebtor Disbursed bursed Total

Cent-ral (io-vernment .5 6L2 14140 ,)7

Total External Debt 225, 98L >2 623S38

Suppliers 26,791 6148 27,439Friance 886 - 886United States 25,905 648 26,553

?r 1vate Barnks - United States 655-922Publicly Issued Bonds - Urited States 33,026 _ 33,326Privately-Placed Bonds - United States 14,861 - 1i,861Other Financial Institutions -

United States 15,000 _ )j,000Loans from International Organizations 18,555 8,71M4 27,299

IBRD 2,351 - 2,351IDB 16,204 8,71414 24 ,946

Loans from Governmients - United States 51,829 21,012 72,841'GD 1;1l~~~~ ~~~~~,801 113v512 83.

of which two-step loans (16,839) (b4,893) (21,732)0 i:EXBANK 7,028 7,,50o 14,528Total Internal Debt 172,961 1,208 16L3169

Suppliers 2,692 - 2,692Pagares Servici-s Basicos 1,950 - 1,950Pagares Other 7h2 - 7h2

Public Bank 29,695 - 29,695Banco Nlacional 29,695 - 29,695

:30nds '10 111,208 1515782ConversiLn - Instituto SeguroSocial 84,723 824,723Var iou s 23,686 1,219 214,905Reforma Agraria 1,418 2,212 3,630Itoads and Bridges 10o,410 850 11,260Construcciones Nacionales 8,51h 6,013 1L,5g27TPhiversidad de Panamg 661 232 893

'blic Schools 3,630 682 1,312.ectrical Distribution 2,1814 - 2,1814

V^oter and Sewerage 1:8O9 _ 1,809IFRHA 3,539 - 3,539

Barico Nacional de Panama 1 071h 8,205 23%279

* Tot.al External Debt 1,507h 8,205 23,279

page 2 of 4

"able 4.i : Total Public Sector Debt Outstanding as of December 31, 1972 /1

Type of Credit Undis-,cT:.e of Deb'.2or Disbursed bursed Total

Total Int.ernal Debt. 1189 - -11 895

'o de )Jmenz Hi ' 7j ooecas

o ±'t"

page 3 of 4

Table 4.1 : Total Public Sector Debt Outstanding as of Decemiber 31, 1972 /1 /2

Type of Credit 'rdi s -I1a-e of I:Debtor Dis'bursed bursed Tot.n'

Private Pan.ks 2,71 14,900 163714Uni-Led. States 11,171 4,900 16337L

Loans fr'om International Organizations 3,600 39305 6,9Q(5IBRD 95 3305 314001D;B 3,50> - 3,5o5

Caja de Ahorros de Panrvna i 8 12 78

Total &-ternal Debt 1,13478 3;7

Loana from GovernLments United States -AID 1,h78 1,1478

Insti.tuto de AcL.ieductos y Alcantarill3adosWacionales (IDpAA'T) 2_08 , _226 526.

Total ExternaL Debt 9,393 18,61b6 28,039

Private Banks - United States 1,393 - 1393L3oans from Internacional Organizations -

IDB 5,1143 278 5,451Loans from Governments - United States -

AID 2,827 18,368 21,195

Total Internal Debt 16L015 1,58o 17,595

Bornds - Various 1,980 780 2,760Gobierno de Panama lh.,035 800 1l4,835Of which AID Tw;o-Step Loans (114,035) (800) (114,835)

Instituto de Recursos HidrAiLlicosEl( ctricos (1ITE) /3 46,2Z 3131, 765

Total External Debt 314,350 35

page 4 of 4

Ta'ab1e 4.1 .rTotal FlUb'LiC Se-ofr Da't Outstbandig as ol` Decemiber 31, 1972 /1 /2

Type of Credit Undis1rame c) , 1,bt_r__i Dr r srsee bursed Totol

ve^.- -E,¢< Par E>V7i a 225 570 96930 _____ ~~7,~:.

-- 300!e - 30023:',-- S f.o-. in - cmzai ona--

3Ct, r^iz.- ticx'i IDD 630 6,270 6,oooTotiL D L Debt -6 _ 1 936

Beo, Ca a Securo Social 1036 -1Jun_a 5,cioi de Liducacion 702 _ 702

Iotal Lnte:n'7l Debt 702 -Bends 702 - 702

;Lstrittuto Panamano de TuriEno (IPAT) 667 3 5,63g1L'otai. Internal Debt# 6 77 339 ,;

Tlvlic Barn - Banco Naciona:L 650 _ 650Casinos Nacionales 205 - 205Danco do la Vivienda (IVIU) 205 - 205lliniisterio P2rii cacion 300 - 300

b-o'>jier.ro de P-Fleaxnama' 132 33960 L,1000f -;hich AID 'io-Stp Loan (132) (3,968) (4,100

rc]--o de Payna -1 3 1013To- -E-LL enial Debt, 10,000 - 1 .0O0

3.rivat;e }3

*S* -

Table 4.2 : Debt Service on All Public Debt, 1965-1992

( thousand US dollars )

DEBT OUTSTANDING TRANSACTIONS DURING PERIODBEGINNING OF PERIOD CANCEL-

LATIONS,DISBURSEO INCL1U0ING COMMIT- DISBURSE" SERVICE PAYMENTS ADJUSTI

YEAR ONLY UNDIS'SURSED mENTS MENTS PRINCIPAL INTEREST TOTAL HENTS(1) C12) (3) (4) (5) (6) (7) (8)

i1965 145Y494 200 1959 1B8 30 19J574 BJ632 6J811 15A443 '6r816'1966 156P690 20 5,341 39O035 22,653 9106 7p206 16,312 4 8

967 17!199 2j35!2/ 69 896 37 : 235 91, 4,9 7 94: :, 300 -2228;1968 198'014 2'93,451 10#747 27JY,59 10o639 9,6(oU 20,239 191I t9 2 15 -I 61 293P750 103P432 89P640 415,0b9 11 174 26J263 1 58I1970 290'022 380,935 121o249 85J945 3OJ907 14'.7a6 45ffi695 3 540

11971 344A467 4.67*737 166r731 120,950 47p169 2Q261 67p450 '1P675'19 2 4 A8s i% 553 6 24 119,719 164#091 42A915 26,712 69p687 31 938

1973 560'024 6!94*366 81,489 137*272 530384 33p627 87,A 012 2.1974 6 3A911 7:22,471 . 44,a27 55.5 0 3?P430 0,9b91975 63 3143 e6 6,76 24,092 66J03t 3o)327 101 364 61S76 535>198 e*uoB45 - 7554 63*6o4 31,/15 95*6291977 533oV.6 535*999 = 2p093 54956 27I970 62*926.1978 481042 481*O42 ' - 50 242 24P342 74# 584 -1979 43P8C00 4,30860_ 45P021 21*116 66,1361980 385P779 385,779 - 42 0 7 18*416 60.* 493t198 1 3A3?702 343'702 42,p596 17* 301 59J697198.2 3CI1I06 I0 1 106 33*9987 13 747 47,734 -1 '63 207i119 Vj67u119 . . 26,88ti9 11*d96 36'785jl55 ti 4 240JG30 2t40230 - 1*335 1J5S65b 31J992 *1 9 5 216J895 ijVlO*9 5 - 21,56U 962?9 31I209 -.1986 197P309 1197?309 ' 21,698 8,578 300277;1987 175A611 1 75,611 - 2O,984 75U5. 286A89 -.1988 154*626 54,626 19115 6*494 25*p 610 -i1985 135*510 i35'510 I 19 975 5,537 240512 -I1990 116*535 2161535 1 17p13I7 4*62 6 22J44411991 98*713 , 98,718 - 17,518 3J746 2i#266

1992 81-199 i81*199 - 13,919 2*916 16,835 -

"able 4.3 : Debt Service on Fxternal Public Debt, 196'-1992

( thousand US dollars )

& - ' @DEST OUTSTANDING TRANSACTIONS DURING PERIODBEGINNING OF PtRIOO CANCEL!

LA'ZONS,

D1S1e:REL9 INCI.uDING COMMIT- DISBURSE- SERVICE PAYMENTS ADJUST

YEAR ONLY UNDI.i8LURSEO MLENTS NENTS PRINCIPAL INTEREST TOTAL MLNT

(1) (2) (3) (4) (5) (6) (7) (5)

1965 72J486 108468 10'150 11*035 3s406 2,944 6*352 8,572

19s6 800141 i 060938 260003 14o239 3,875 3,152 7*.027 '9171967 90,495 12dI149 3.31Ibt I7,229 4#461 3,551 6,012 106 l

1968 103,267 156J98l 1,770 17,181 5P467 40360 9,627 X5sIkI 1969 114$969 153p226 5SP99k 39$709 8,056 4,229 12b285 '480 1970 146P800 ?o0'682 2111229 689096 23,154 6,B51 3o,005 4b0 ,,I iY7 1 1191*642 2a89237 129727 8 3*361 27,897 11,966 39P665 '29 1

I97j 29 t 55 90176 75* 72 1 16,95 32P458 17,392 49$650 4a,292

1973 340*613 458*082 79*175 127,932 34*552 21. 672 5614241974 433,993 602,705 - 39,too 41,3e8 24,?1 2 65#600 51 975 432'O4 24317 20, 4 86 51,J08 2 P6,5 76*243 51 9 7 6 40o 1, t 412 4 j, t 1 4 6529 4 8 . 1 8 1 2 1i 7 0 3 69J864197? 359*529 361*532 2,003 41*297 18,713 60*009 b ,

1978 324;$236 420*236 - - 36,315 15,848 4,1 631 9 79 283A921 28 3V921 ' 30*6t7 13,361 44#028

1 9808 253p25) i53*253 - 27*311 11,464 3b 7751 9!31 225P943 225*943 - 26*560 11,165 370745 V1 19 2 199p363 i99f363 23*323 8,460 31*03

1983 176s050 178*t'060 - 160b36 7,196 24,033

1 984 159*224 i59e224 I lIr852 6*493 18*345 .

' 19 35 147*372 147, 312 1 1J,773 5*991 17*764 ,1986 135p599 135'.99 * 11i4B 5,467 16P96719 87 124*11d i24,118 I - 1150 1 A,974 16s4 75198a 112 617 112,617 I ' I1423 4J454 15,8a 7 71989 1 0 1194 ;01AI94 - - 11,633 3*92Q 1 5.5 , !1990 8Y9561 69P561 p * 1,576 3*375 14tP9531991 7'7986 77*'983 * li50 4s81$I?92 6 S 0j9#47 e92

Table 1l: Debt Service on biternal Public Debt, 1965y--992

(thouisand U.S. dollars)

DEBT OUTS rANDIVNG TRANSACTIONS DURING PERIOD! ~~~BEGIN,qlNG OF PERI2OD AC-1i LATIONS*

5 DISBURSED XNCL'UPj!NG C0o41IT' DISBURSE" SERVICE PAYIENTS ADJUST;'YEAR 2IN LY UNDIS'2URSED Ki N TS 6 ENTS PRINCIPAL INtEREST TOTALA MENTS! i,, (;F2? (3) s4? (5) C~~ ~~~~ ~~~~6) (7)

il 965 V73 0(.I 9 1 8 68O 8P539 5,224 3R867 9eO91 1i756'4 9 6 6 7 6, 476 9549 9b840)3 13#032 8,414 5,231 4,054 94285 869,I 9CJ7 797 04 iP?,O73 36i709 20J006 4,478 4e39U 9e368 '2J33411 9 68 3 9 4747 136A170 d 977 10.278 5 172 5J240 l s4 2 2491ic969 1 UU 92 14v',. 524 4767440 50061 78033 6#945 13i498 '6 8I1970 143P222 18O,253 17,02U 17,849 7,753 7-937 15?690 4,020119/I 152I 825 178&P00 374 7589 19,272 a.313 27P585 -1 384

9 7 2 L~f;17 3 194 648 44 247 47,196 10,457 9,360 19P837 7,646

1973 219 fi411 2360264 2'314 9,340 18i832 11*755 30.587 -1 9 4; 209 U, 9 ! 9 2 1 9 766 5, 127 14, 17 1 1: 1 21b JT i 5A975 20UU839 205PS59 3,606 14P429 10692 25i121 I1976 13J016 121,3 - 1,025 15,673 10072 250745

9 7 7 1 7 4o17 3376 174 i6 - 90 13,659 9,257 22 916 6W9 ell 160ip07 160P801 * 13P927 OJ493 22#421;979) 146880 146J8dV - - 14,354 7A755 22s1089 980 132P526 132p526 - 14,767 6,951 21,718

k 981 117P759 117,759 * 16,036 6,116 22153>982 1II1r723 101W723 ' 10.'664 5,267 15'93119 63 9 10:i9 91 9 ' 10,053 40700 14J753984 81Io06 8 10 06 - - 9 ,"3 4s163 13 64698 5 7I.523 71,523 - ' 3,63t$ 13'445 4986 6 1711 61I711 - 10,21d 3,C091 13s309987 51.493 51,493 9,463 2,530 12p014 498e8 42C009 42,009 7,' 692 2,04U 94732 298;9 34,317 34s317 - * 7,343 1,616 8i959990 2697 4 26,974 6o240 1#252 7 491

1991 200734 20,734 * 6,013 936 6p9511992 14s722 14.i722 5*,280 635 5P914

S~~~~~~~~ t-

* 0 Table 5.5: Debt Service on External Government Debt, 1965- 1992

(thousand U.S. dollars)

DEBT OUTSTANDI,G TRANSACTIONS DURING PERIODEtGrNNING OF PEfIO CANCEL-

LATIONS,DISBURSED INCLltDING COMMIT- DISBURSE. SERVICE PAYHINTS AOJUSTo

jYEAR ONLY UNDIs1URSED MENTS MENTS PRINCIPAL INTEREST TOTAL MENT6

, (1) 02) (3) (4) (5) (6) (7) CB)

1965 55*960 65'b64 5,350 EA072 2 762 2,531 5P293 805731966 61#?97 n9'879 2,800 10 214 2.847 2,652 5,' -i ;9

I19fi 7 6BA654 714, AI 15 2'1;4-5`7 7ffi62 2Jp 6 5U 2#90b 5P558 0172

*968 7 ;), 6i I 0 98&430 1,770 34 66 3i37 . 2o896 6274 58

19 6 ( 73,o9F.5 46,764 13,816 14'743 3s694 2,784 6P478 '481

197C& 65,o'33 1O66405 62'417 61i219 50530 3'S14 90 44 262

j971 1400745 163,554 86^435 58'635 19,536 10'110 29*646 '98

197? ( 91?9,IC0 23C;355 37 472 72'776 2,15a 1 3l1J5 41 293 151142

.¢ . w.s, @24't10- 6*7vJi3 j1` 12 2 t2t4' 2 4 I1 65s90ao 480451 2 5 . Co 1 5 1 3 (0 o19 3.

lI' g 1 7a;> 1 F ti 2 244ob10 6t 6372 dt,2'1. 22 15s645 4 ., 897t975 2 6 322 3'072 ,7 559 4 4P55 . 300510 1>0 32 4 5A5s

$976 2.70049 247(049 - 28o3?2 1286i6 41I250 3

1977 2u8*677 298*677 - b 283524 10*924 39*448 4

1978 1tBO153 180j153 - 25P432 8.761 34*192

1979 154s721 154p721 2 _ 21* 300 6'9U1 28*201 -

t98O 133A2 1 1 A 3421 * 17*967 5'545 23*512

J981 115pt544 1 j5,4S4 - B.1-8 30 9 5Os773 24*0)129 82 9 7 97s14'j §7s 45 - - 15005 34)493 16P568

1983 82*070 2;u7u U , 9 427 2, 6U20 12*O'7

f9 8 4 72P642 2 2o 642 ' 5143 2*274 7 417

$985 67 499 7P499 5' 194 2a *o 7,294 -

;986 62' 305 23o 3 0 5-U97 1*924 7,0021

i917 57,o 2c. A72f 200 - 5,032 L*?JU7 5|6 7f, 1

9l86s 52*fi177 2*17 7 '' 4 t981 1 *5/6 6*563 -9 8 9 4 7,147 190 7019 190 5 'S,04d 1J4 U2 6 450 5

lt59'0 4 42*149 2l1q 2 * 5A111 1*224 6*5 336

1991 37'o0o 7i, 030 - 4*696 XQ044 57w39

1992 32*335 - 2'335 - 3*630 887 4#516

! !~~~~~~~~~~~~

Table 4.6: DebL Service on Internal Goverwnrent Debt, 1965- 1992

(thousand U.S. dollars)

DEBT OUTSTANDING TRANSACTIONS DURING PERIODBEGINNING OF PERIOD CANCEL-

LATIONSP DISBURSED INCLOUDING COMMIT' DISBURSE& SERVICE PAYMENTS ADJUST

YEAR ONLY UNDISiBURSED MENTS NENTS PRINCIPAL INTEREST TOTAL MENTS(1) (2) (3) (4) (5) (6) (r) CO)

1965 54J563 '68*358 6A330 4&604 3*61d 2.,724 6b342 9511966 55J529 72*021 83J32 4J449 3J653 2J911 6i564 6531967 56*295 7 rE353 25*697 1660 8 3P835 SJ239 7,074 12#4931968 69J273 !96?722 7J700 7J466 3J627 3J8b4 7J511 2661969 73*468 1OI0061 44,788 45*401 4,068 5J444 9*o512 '3861970 1140435 1A41,395 8.000 14#441 5*134 6P549 11,683 3*71O1971 123,723 140 551 30,688 30,621 160164 7*013 23AI77 ?1,8791972 138J178 153J196 42P382 42,407 7J224 bJ127 15*351 4J185

'1973 172p961 1-84 169 4*509 10O686 9P908 20P5941974 1667 84 1:73.483 3*692 1OJ213- 9J474 19888 6

'1975 16OP263 163J27O - 1J893 10*470 9,078 19 548 11976 151*686 1528601 - 1,025 10*721 6P572 19#2931977 140*998 141*088 - 90 10#423 7,931 186354 -'1978 13c,,664 1:30*664 .10*843 7*321 1 8AI51979 119.821 1119*821 I 11*060 6,6bb 17*748 -198O 108*761 iV08'761 I - 11,639 6*034 17*6731981 97J1 22 ?97122 2 * 13,225 5J342 18J567 -1982 83,897 '83,897 ' 8*061 4*625 12P6871983 75*836 !75,836 6, 242 4*159 12*401 -1984 67*594 167,594 S o 8,023 3A6U8 11*7122 985 59*571 i59,571 - - 8J344 3.i21 115621966 51*2 27 '51*227 ' - 8 537 2*fi728 11 265 -1987 42*690 42*690 S o 8 156 2*235 10*391 -1988 34P533 W34,533 ' ' 6*420 1.792 6*211 -19&9 28*113 :28#113 - - 6,180 1J412 7,592 2;1990 21J933 214933 3 5J068 18067 6l1551991 16P865 1166865 U 4 933 814 5*747.1992 11*932 11,932 - 4,597 543 5,139

!~~~~~~~ ' S

Table 4X.7 Adjusted Pro,jection df rGovernment External Debt Service, 1974-1980(million Dalboas)

Plu:s Service ProjectedPresent Minus Refinanoed on on Existing Plus new Plus Pro,ected

Schedule Debt $115 mill, Debt Sorrowir.n BDA debt . Oe,bt 3erViLe

9714 - Total =42.9 22.7 11.5 32 _7 .2.0 0. 34.6Amortization 27.3 T0- 10.3 t.1 0.7

nterest 15.A G.7 11.5 21.)! 0.9 0., 22.>

1^75 -Toa. h~45.5 26.7 11.5 31.3 2.5 1.^ 35.0Amortization 310.0 7 1.0 1

on trest 1 5.0 5.2 11. 21.3 (.9 0.2 22.1i

11:7- T tel' 41.3 21.9 11 . 30.9 3.8 . 1.2 35.9Amortization T27i - 9.9 2.0 1.0 12.9Trterest 12.9 3.4 11.5 21.0 1.8 0.2 23.0

19'T? - Total 39.14 16.6 hA __3 1.0 0Amortization 2.-5 = 1 L 0 2.0 T 1 7Interest 10.9 2.1 11.5 20.3 3.5 0.2 24.0

]978 - Total 42 1. 30-7 517A 1.2 09.9Amortisation 25.h 12.2 19.2 32.17 2.0 0.7 -337Interest 8.8 1.3 11.5 19.0 5.2 0.2 24.4

1979 - Total. 28,? 7,4 28.8 8 9 2 0.8 58.5Amortization ?1.3 19.2 33.9 0.9 0.7 77Interest 6.9 0.8 9.6 15.3 7.6 0.1 23.0

1980 - Total 23.5 26.9 46.3 12.3 0.8 59.5Amortization I .0 3.7 3.7 2-.5 0.7 36.8Tnterest 5.5 0.4 7.7 12.8 9.8 0.1 22.7

Note: Existing debt service estimated as of end of 1973. Debt service on new government debt consistent with table 5.37a;new borroving includes official and nonofficial borrowings.

Source: Tables 14.5 and 4.6 and Mission Estimates.

v

PUB.IC FINANCE

Table 5,1 CONSOLIDATED PUBLIC SECTOR ACCOUNTS 1960 and 1965-73(thousand of Balboas)

Zat.1960 1965 1966 1967 1968 1969 1970 1971 1972 1973

Current Revenues 66,795 114,621 132,708 149,368 158,448 180,998 220,318 257,227 301,945 359,593

Current Expenditures 56,603 92,724 106,476 123,058 134,872 153,546 180,905 212,478 265,100 300,707

O~urreat uavf.ng before Transfers lu i92 21,89 232 27 452 39 413 49 36 845 58,886

Net Transfers to Private Sector 5,492 5,522 6,628 8,395 9,061 10,074 16,125 13,620 17,945 7,543

Currenit Savirigs after Transfers 4,700 163 19 604 173285 14 , 2 17 378 9B 21,129 00 51,343

Carital Transfers net of CapitalRevenues - 935 1,100 1,299 -447 -5,303 -3,024 -2,944 -2,515 -1,960

Non-bozrowed Fuids for Investment 4,701 17, 10 0 4 9164 385 499 33

Capital Exoenditurea 16,236 27,161 32,057 43,314 39,908 58,039 68,699 69,273 97,393 152,583Fixed Investment ( ) (22,106) (27,480) (37,100) (36,143) (52,071) (59,612) (57,472) (90,250) 118,178Purchase of Fixed Assets ( ) ( - ) ( 20) ( 262) ( 208) ( 191) ( 645) ( 25) ( 454) ( 21,500 )Lending to Private Sector (net) ( ) ( 5,025) ( 4,519) ( 4,925) ( 2,536) ( 5,029) ( 6,177) (10,646) ( 5,248) 1.1,105Other ( ) ( 30) ( 38) ( 1 027) (1 021) ( 748) (2 265) ( 1 130) (1 441) (1,800)

Over-all SurDlus r Dficit -10,536 _-9 851 11353 24 00 -_25 740 45964 -_48 35 41088 -_103.200

Gross Exterral Borrowing 7,775 9,052 12,929 12,028 19,028 42,244 68,873 79,653 114,223 127,665AID (5,000) (5,249) (8,655) (5,616) (6,436) (5,258) (5,705) (14,361) (6,213) 20,311IDB ( - ) (1,230) (1,205) (3,472) (5,603) ( 553) (5,799) (13,146) (7,374) ( 11,056 )IBRD ( ) ( 706) (1,880) ( 289) ( 786) ( - ) ( 912) (2,187)1/ (11,747)1' ( 13,096Other (2,775) (1,867) (1,189) (2,650) (6,203) (36,433) (56,457) (49,959) (8.8,889) ( 83,202 )

Groas Internsl Borrowing 6i089 4,903 4!553 13,274 18,284 15,081 9,821 13,158 25,528 13,801

Amortization (-) 1,467 6,917 7,525 6,535 9,848 12,320 29,896 46,677 51,361 46,607

Discrepancy and Change in Assets(-increase) -1,861 2,813 1,396 5,333 -1,724 959 -362 -5,047 -7,382 8,341

Source- Tables 5.5 to 5,14

Tahle 5. 2 CONSOLIDATED PUBLIC SECTOR ACCOUNTS, 1960 and 1965-72(percent of GDP)

1960 1965 1966 1967 1968 1969 1970 1971 1972 1973

Current Revenues 16.1 17.4 18.5 18.7 18.4 19.1 21.1 22.2 23.0 24.9

Current E:xpenditures 13.6 14.1 14.8 15.4 15.7 16.2 17.3 18.4 20,2 20G8

9P 2.5 3.3 3.7 3.2 2.7 2.9 3.8 3.9 2.8 aNet Transfers to Private Sector 1.3 0.8 0.9 1.0 1.0 1.1 1 .5 1.2 1 ,4 0.5Current Say-1s after Transfer 1,1 2.5 2.7 2.2 1.7 1.o 2.2 2.7 1.4 ,6

Capital Transfer net of Capital Revenues - 0,1 0,2 0.2 -0O1 -0.6 -0.3 -0.3 -0.2 -0.1Non-borrowed Funds for Investment 1.1 2.6 2.9 2.4 1.6 1.3 1.° 2.4 1.2 . aCapital Expenditure 3.7 4.1 4.5 5.4 4.6 6.1 6.6 6.0 7.4 10.5Fixed Investment (..). (3.3) (3.8) (4.6) (4.2) (5.5) (5-8) (5.0) (6.9) (8.2)Purchase of Fixed Assets (...) ( -;) (') (- -) (- -) (- -) (- -) (- -) C- -)Lending to Private Sector (Net) (t ) (0.8) (0.6) (0.6) (0.3) (0.5) (0.6) (0.9) (0.4) 0Other (...) ( -3 (- ) (0.1) (0.1) (0.1) (0).2 (0.1) (0.1) (0.1)Over-all Surplus (+) or Deficit-) -2.5 -1.5 -1.6 -3.0 -3.0 -4.8 .4.7 5 -6.1

Gross External Borrowing 1.9 1.4 1.8 1.5 2.2 4.5 6.6 6.9 8.7 8.8

Gross Internal Borrowing li5 0.7 0.6 1.7 2,1 1.6 0.9 1.1 1.9 1.0

Amortization 0.4 1.0 1.0 0.8 1 r1 1.3 2.9 4.0 3,Q 3.2(-increase)

Discrepancy and Change in Assets -0.4 0.4 0.2 (.6 -0.2 0.1 -- -0.5 -o.6 -0.6

Source: Tables 2.3, 2.8 and 5.1

Table 5. Public Investment by Sector; 19,O, 1965-1973

(thousand Balboas)

1960 2965 1966 1967 1968 1969 1970 1971 1972 1973

Ariu2tu 221 882 9JOQ 3I260 1.990 O. 62 6 2 0

Fixed 195 136 4,148 1,983 1,047 14,378 3,310 5,131 3,8(2 10,079Agricultural Credit 26 746 1,342 1,277 943 1,325 2,382 3,465 1,378 4,516Industry, Com 2erce Tourism 22 30 1.046 23 L I

Fixed 239 220 144 317 330 877 2,311 4,778 21,69(6 1,423Purchase of Land and others - - - - - 169 527 - 605 -

CZ-onn?ot - 71-38 f 1-711 A,2 30,tl 7 3K3 nn n 1j7,91 F 2o4,9wFixed 5,907 11,438 7,000 12,713 8,292 30,607 35,399 17,691 20,009 24,198Technical Studies - - - - - 162 1,715 24 282 762

Powrer -4 2.6749 kL2 72.28 2 6 6 5Fixed 1,705 2,636 3,365 6,7'4 2,145 2,313 8,470 13,691 36,108Purchase of Assets - - -_ - - - 21,500Others - 30 38 1,027 551 504 554 1,106 8214 1,000

Health 2.769 L9 6 5 1 23 8 02 14,102 Fixed 2,769 4,595 6,095 10,047 8,765 4,7141 5,874 14,102 14,39t 25,460Other - - - - 1470 92 - - 35 38

Education 251 2ji2 3142 6, 503 9,681 10.012 7.760 294 15.23 Fixed 281 3,274 2,564 5,889 9,330 9,137 7,190 5.035 12,724 13,588Educational Credit - 47 578 614 351 875 570 919 2,511 4,967

Public Administr6tion 493 1 ,5_76 3-316 297 1381 3.328 2,4& 4a252? I5h

Fixed 669 493 1,556 3,176 2,880 4,381 3,214 2,414 4,103 1,52hPurc!-se of AsSetS - - 20 140 57 - 114 25 119 -

1a4i.JL LI }1 1.488 241 4,800 2 1.8,22 1.200Fixed 100 110 2,998 625 39 459 435 180 200 200Mortgage Financing 4,744 4,232 2,599 3,156 1,449 4,472 4,365 7,262 1,622 1,060

Local. and Re ional Development (fixed) 75 2 262 560 5 12 1567 3 4'8 _86TOTAL C_Ja .Outlays 21237 2 6 32,250 414591 41.807 648 7j 74.080 101 186 1 58

Fixed 10,467 22,106 27,673 38,377 37,986 57,297 61,613 61,?79 93,579 116,178Credit Extension 4,770 5,025 4,519 5,047 2,743 6,672 7,317 11,646 5,711 11,105Purchase of Assets and Stuidies - 30 58 1,167 1,078 927 2,910 1,155 1,895 23,300

Soulrce: Tahls 4

Table 5. -: PUBLIC SECLM IMVEST BY S.ECT. Ninistry. and Agencies' 1960 1965-1973(thousand Balbos)

* - - g3~~~~~~~St.

7 96D 1965 1966 1967 1968 1969 1970 1971 1972 1973

Ap,riculziure 221 882 5,1& 3 2605 8.996 5.250 1Q6

HiDistry of Agriculture 56 70 3,877 i,354 411 3,J73 3,0h1 4,700 3,713 9,5